FX.co ★ Technical analysis of EUR/JPY for Aug 27, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair is seen to be testing the resistance turned support trend line around the 136.80/137.00 levels as seen here. A bullish reversal is expected from the current levels, that could rally towards 139.40 at least. Recommendations are to remain long for now, risk remains at 136.00.

2. Support is seen at 136.00/135.80.00, followed by 134.00 and lower while resistance is seen at 138.50, followed by 139.50 and higher respectively.

3. The structure indicates that EUR/JPY could continue rallying from the current 137.00 level.

Trading recommendations:

Remain long, stop below 136.00, the target is open.

Good luck!