Wave summary:
EUR/JPY has rallied nicely and the next hurdle to overcome is seen at 125.80 a break above this resistance, will confirm continuation higher to the next target seen at 127.00. Short-term support is now seen at 124.68 which ideally will be able to protect the downside for the expected break above 125.80.
R3: 127.00
R2: 126.47
R1: 125.80
Pivot: 125.50
S1: 124.96
S2: 124.68
S3: 124.33
Trading recommendation:
We are long EUR from 124.46 and we will raise our stop to break-even. If you are not long EUR yet, then buy near 124.68 or upon a break above 125.80 and use the same stop.
