EUR/JPY Short term Outlook

FX:EURJPY   Euro / Japanese Yen
135 0 0
EUR/JPY             has recovered after making a low of 133.56 on account of extend Greece bailout package by four months. It has removed the threat to Greece could run out of money next month.

EUR/JPY             is facing strong resistance around 136 and any break above would extend gains to 137./137.60

On the downside minor support is around 134.50 and any break below will target 133.50/132.82.

Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy

Recommendation: Buy EUR/JPY             around 135, SL 134.49, Targets 136/137.40.
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