EURJPY testing the support line now. 131.00 is critical for bulls


Technical outlook and chart setups:
The currency pair is found to be testing the immediate trend line support for now. It is still recommended to hold long positions initiated earlier and also plan to buy more. Immediate support is at 131.00, followed by 130.00/128.00 and 125.00; while resistance remains fixed at the 135.00 levels respectively. The bullish trend shall prevail till the time prices remain above the 131.00 levels. On the other hand, if the support line breaks and prices test the 131.00 levels in near future, subsequent rallies must be sold as a change in the trade strategy.

Trading recommendations:
Hold long positions, stop is at 131.00.


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