EUR/JPY has broken above minor resistance at 124.74, which indicates the corrective consolidation from 123.82 is still developing and likely will cause a minor pop to 125.27 before turning around again towards the downside.
It will take an unexpected break above resistance at 126.18 to shift the bias towards the upside again.
R3: 125.27
R2: 129.95
R1: 124.74
Pivot: 124.56
S1: 124.12
S2: 123.75
S3: 123.37
Trading recommendation:
We are short EUR from 124.25 with our stop placed at 126.20.
