After the break above resistance at 129.54 EUR/JPY has moved nicely higher towards the next upside target seen at 132.16. We now seen support at 129.85 which we expect will hold for a continuation higher towards 132.16 and longer term closer to 135.94 and 149.50 as the next major upside targets.
R3: 131.15
R2: 130.85
R1: 130.50
Pivot: 130.23
S1: 130.05
S2: 129.85
S3: 129.54
Trading recommendation:
We are long EUR from 125.85 and we will move our stop higher to 129.25.
