EUR/JPY has corrected lower than we first anticipated, which has opened for a move closer to solid support at 128.29 as long as minor resistance at 129.94 is able to cap the upside. From support at 128.29 or upon a break above resistance at 129.94 a new impulsive rally higher towards the next upside target at 133.35.
R3: 130.66
R2: 130.18
R1: 129.94
Pivot: 129.62
S1: 129.22
S2: 128.62
S3: 128.29
Trading recommendation:
Our stop at 129.25 was triggered for a nice profit of 340 pips. We will buy EUR again at 128.40 or upon a break above 129.94
