EUR/JPY saw a correction to 122.81 which was a bit deeper than we expected, but it doesn't change our overall bullish outlook calling for a retest of resistance at 124.43 soon and the higher towards 125.85 and 129.26.
Support is now seen at 123.31 and again at 123.00 only a break below 122.81 will cause a review of our bullish count.
R3: 124.85
R2: 124.30
R1: 123.87
Pivot: 123.67
S1: 123.31
S2: 123.00
S3: 122.81
Trading recommendation:
Our stop at 123.00 was hit for a profit 49 pips. We will re-buy EUR at 123.35 or upon a nreak above 123.87
