FX.co ★ EurJpy Is Holding For Now. A Push Through 104.00 Levels Required

Technical Outlook and Chart Setups:

The single currency pair is holding 103.60/70 levels for now. A push above 104.00 level is required to register fresh highs at 104.75. It is recommended to hold long positions taken earlier. On the flip side, a drop below 102.50 would threaten a break down towards 101.70 level. Prices have bounced from the Fibonacci 0.5 support and more probable direction from here is a push through 104.00 level. Intermediary support is just above 102.00 level while resistance is placed at 104.20 level.

Trading Recommendations:

Hold long positions for now. Stop at break-even. Target at 104.75.

Good Luck!