EUR/JPY is now testing the former peak at 127.02 which could give wau for a short-term consolidation before a continuation higher towards the 129.06 target. Short-term support is seen at 125.94 which is expected to act as a floor for the next push higher through minor resistance at 127.02 for a continuation higher to 129.06.
R3: 128.38
R2: 127.50
R1: 127.02
Pivot: 126.56
S1: 125.94
S2: 125.80
S3: 125.60
Trading recommendation:
We are long EUR from 123.46 and we will raise our stop to 125.00
