EUR/JPY technical analysis for July 2, 2013

If we look at the chart, all the three moving averages forming Golden Cross pattern are still pointing to the fact that the uptrend situation is still continuing for EUR/JPY; however, this currency pair must have a small retracement as the element from the healthy uptrend; as long as the retracement does not touch the 129.00 and/or the EMA 100 (green); the uptrend situation for EUR/JPY is still in place.

RECOMMENDATION:
Buy stop (pending order) at 130.26.
Take profit at 130.40.
Stop loss at 130.16.

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