The EUR/JPY pair bounced off our entry level perfectly at 114.00 (horizontal overlap support, Fibonacci retracement) where we expect a bounce to at least 115.00.
Stochastic (34,5,3) has bounced above the 12% support as expected and crossed the 33% level as well signalling a recovery is in progress.
Remain bullish.
Buy above 114.00. Stop loss is at 112.85. Take profit is at 115.00.
