EurJpy Extends Rally Above 96.00 Levels… Still Room Left For Upside
Technical Outlook and Chart Setups:
As suggested earlier, 96.00 level has been met yesterday. There is a 4 hour chart setup above and it is quite possible that prices extend rally towards at least 97.00 level before a pullback can materialize. It is still recommended to hold on long positions and reduce risk at the moment by moving stops to 94.50 level. Immediate support now comes at 94.60 while bulls are targeting resistance above 97.00 levels. Stay long and ride the momentum for now.
Stay long, move stop loss at 94.50, target 97.00.