EUR/JPY dipped to just below the ideal support at 125.07 (the low came in at 124.83). Renewed upside pressure is now expected for a break above 125.54, that yields a continuation higher towards 125.95 and 129..48 on the way towards the extension target at 133.54.
Support at 124.83 should protect the downside for the rally above 125.54.
R3: 127.09
R2: 126.59
R1: 125.95
Pivot: 125.53
S1: 124.83
S2: 124.45
S3: 124.18
Trading recommendation:
We are long EUR from 124.65 with our stop placed at 124.15
