EUR/JPY entered minor consolidation. It should move closer to the next minor upside target at 127.41 anytime now. In the longer-term, we expect EUR/JPY to continue higher towards 129.06 as the underlying uptrend gaters upside momentum.
Support is seen in the 125.78 - 126.00 area.
R3: 127.41
R2: 127.02
R1: 126.48
Pivot: 126.00
S1: 125.78
S2: 125.47
S3: 125.17
Trading recommendation:
We are long EUR from 123.46 and upon a break above 126.60 we will move our stop higher to 125.50.
