This pair looks to continue a bullish bias, however, only after closing above the range at 132.436. Keep an eye on EUR/USD and USD/JPY since these pairs influence EUR/JPY; if EUR/USD goes up so does EUR/JPY whilst USD/JPY would tend to go down.
I have also depicted a measured objective target by doubling the range in which price is currently trapped.
Trade 1 (RvR ratio 2:1) Entry: Close above 132.620 S/L: 131.182 T/P 1: 133.429 or 133.713 (1.414 Fib extension) T/P 2: 134.391 T/P 3: 135.527
Trade 2 (RvR ratio 2:1) Entry: Close above 135.761 S/L: 134.889 T/P: 137.506 For both trades remember to adjust your stop/loss when in profit.