FX.co ★ EurJpy Gains Further Up. 113.00 Is Immediate Support

Technical Outlook and Chart Setups:

A weekly chart view has been depicted here. Prices bounced off before the immediate support at 113.00 and rose past through fresh highs this morning. Resistance is now at 117.90/118.00 levels, followed by 121.00 level respectively. It is recommended to hold on the long positions taken earlier on Thursday/Friday. Furthermore, buying on intraday dips should remain as trading strategy for now. Looking higher from here on and buying on dips is recommended.

Trading Recommendations:

Hold on to long positions taken last week. Move stop loss to break even levels. Target is at 117.90.

Good Luck!