EUR/JPY is ever so slowly approching the corrective target at 123.58 from where we expect a new impulsive rally through minor resistance at 124.30 for renewed upside pressure towards the former peak at 127.02 and ultimately above here too for a continuation higher towards 129.06.
A direct break above minor resistance will indicate that EUR/JPY has completed it correction from 125.13 and is ready the next push higher.
R3: 125.72
R2: 125.00
R1: 124.65
Pivot: 124.13
S1: 123.95
S2: 123.58
R3: 123.23
Trading recommendation:
We are long EUR from 122.25 with our stop placed at 123.25
The material has been provided by InstaForex Company - www.instaforex.com