Euro-JPY.. Upside trend started with targets at 132

The pair managed to trade above 126 levels during the week to maintain a positive direction despite the Euros' losses from events in Italy and the UK, our outlook continues to remain bullish, with our view of levels above 131 within the next few days

MACD Alerts - Our own index does not indicate a clear possibility for significant declines on the pair, while confirming that the trading remains sideways for a period before the trend towards a big rally

Support and resistance

The strongest support is at 126.80 while the nearest support is at 127.50 which is an appropriate area to open long-term buying

The major resistors are at 130.20 and the breach confirms the possibility of targeting areas 131 and 132

Trading Recommendation

Buy the pair from the current levels 128.70

stop loss at 126.00

Take profit on three levels

129.70

130.20

132.00