EUR/JPY is ready to break out from the latest consolidation for the next impulsive rally towards 129.06 as the next upside target. A break above 126.66 will constituate the break out of the consolidation and renewed upside progress.
Short-term support is seen at 126.20 and again at 126.00.
R3: 128.05
R2: 127.75
R1: 127.30
Pivot: 126.66
S1: 126.20
S2: 126.00
S3: 125.83
Trading recommendation:
We are long EUR from 123.43 and we raised our stop to 125.80.
