EUR/JPY failed to break above minor resistance at 124.92 for a rise higher to 125.82 and 127.38 on the way to 129.26. We do think that support in the 122.87-123.05 area will be able to protect the downside from another push higher through resistance at 124.92 for a continuation higher to 125.82 and 127.38 as the next minor targets on the way towards 129.26.
R3: 124.85
R2: 124.30
R1: 123.87
Pivot: 123.60
S1: 123.31
S2: 123.19
S3: 122.81
Trading recommendation:
We are long on EUR from 123.35 with our stop placed at 122.75
