EUR/JPY was once again rejected near short-term important resistance at 129.23. This resistance need to be broken to confirm the next rally into the 130.89 - 130.99 target-zone.
Support is now seen at 128.49 and the at 128.30, The later should be able to protect the downside for the expected rally into the 130.89 - 130.99 target-zone. A break below 128.30 will dealy the move higher for a decline towards 127.81 first.
R3: 130.89
R2: 130.06
R1: 129.62
Pivot: 129.23
S1: 128.84
S2: 128.64
S3: 128.30
Trading recommendation:
We are long EUR from 129.25 with our stop placed at 128.00
