FX.co ★ Technical analysis of EUR/JPY for November 30 2015

Technical outlook and chart setups:

The EUR/JPY pair dropped lower to the 129.60/70 levels before pulling back sharply again above the 130.00 levels on Friday. The pair produced a doji/pin bar candlestick pattern on Friday and might follow it up with a bullish morning star today. The pair is trading at the 130.15/16 levels for now, just near a trend line resistance. A break above and subsequent rally at the 131.00 levels are now required to induce confidence on the long side. It is recommended to remain flat for now and wait for further evidence to go long. Immediate support is seen at the 129.66 levels, while resistance is seen at the 131.00 levels.

Trading recommendations:

Flat for now, watching to go long after a break of 131.00.

Good luck!