EUR/JPY has traded sideways and will ideally stay above minor support at 124.60 for the next impulsive rally towards 127.10 and 128.29 on the way higher to 132.12.
A break below 124.60 will call for a move to 124.24 before starting to move higher, but under no circumstance can a break below 123.78 be allowed under this count.
R3: 126.93
R2: 125.95
R1: 124.97
Pivot: 124.60
S1: 124.24
S2: 123.78
S3: 123.37
Trading recommendation:
We are long EUR from 124.65 with our stop placed at 123.70.
