EUR/JPY barely as moved the last couple of days, but it should just be a matter of time, before resistance at 125.23 is conquered and the next impulsive rally higher towards 132.12 is unfolding.
Support is seen at in the 124.58 – 124.72 area and will ideally be able to protect the downside for the expected break above 125.23 for the next impulsive rally higher.
R3: 126.93
R2: 125.95
R1: 125.23
Pivot: 124.97
S1: 124.72
S2: 124.58
S3: 124.24
Trading recommendation:
We are long EUR from 124.65 with our stop placed at 123.70
The material has been provided by InstaForex Company - www.instaforex.com