FX.co ★ EurJpy Indicates A Pullback. Book Profits On Long Positions

Technical Outlook and Chart Setups:

The single currency pair is finding tough to sustain 107.00 level and push higher towards 108.00 at the moment. Though price action towards 108.00 cannot be ruled out, it is recommended to book profits on all or maximum long positions taken earlier. Intermediary resistance seems to be building at 107.00 level now, followed by the 108.00 level, while supports are lined up as follows, 105.60, 104.00, 103.00, and 100.50. A pullback towards at least 104.00 level is quite possible before the next move is decided.

Trading Recommendations:

Book profits on all or maximum long positions taken earlier, flat for now.

Good Luck!