EUR/JPY Short term Outlook

FX:EURJPY   Euro / Japanese Yen
106 0 0
EUR/JPY             has taken support near 129.50 (200 Week EMA ) and slightly recovered from that level. So it has formed temporary bottom around 130.13 and is expected to bounce back till 137 levels.

On the upside the pair’s minor resistance is around 134.66 and any break above will take the pair to 137.63 (Jan 20th High).

The break of 129.50 will drag the pair to 128.20/124.95 in short term.

It is good to buy around 133.-133.10 for the target of 137.50.

Recommendation: Buy EUR/JPY             around 133-133.10, SL 130, Target 137.50
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