EUR/JPY remain indecisive in the 127.60 - 128.46 range and could move slightly higher to 128.50 before tuning lower again towards minimum 125.75 and ideally closer to the long-term ideal target at 123.66 to complete the 10 year triangle consolidation.
Only an unexpected break above resistance at 129.05 will invalidate our bearish outlook.
R3: 128.50
R2: 128.20
R1: 128.08
Pivot: 127.68
S1: 127.60
S2: 127.23
S3: 126.62
Trading recommendation:
We sold EUR at 128.05 and we will place our stop at 129.10.
The material has been provided by InstaForex Company - www.instaforex.com