FX.co ★ EurJpy May Extend Rally Upto 98.00 Levels. Book Partial Profits For Long Positions Taken Earlier...

Technical Outlook and Chart Setups:
4 hour chart view is presented above for reference. The minimum expectations of 97.00 level being discussed last week have been met and are depicted above. The charts are looking stretched at the moment but we still cannot rule out the possibility of 98.00 level before a reversal. It is recommended to book profits on at least 50% of long positions taken last week. Bulls may target 98.00 level, also the 0.618% retracement level, before giving up.
Trading Recommendations:
Book at least 50% of profits taken on long positions last week. Target 98.00, stop below 95.50.

Good Luck!