EUR/JPY has finally broken above short-term important resistance at 125.95 for a continuation higher to 128.31 and 130.12 on the way towards the 161.8% extension target at 133.54 in wave iii.
Support is now seen at 125.71 and key-support is at 125.32. The later must protect the downside to keep the bullish outlook intact.
R3: 127.03
R2: 126.53
R1: 126.07
Pivot: 125.71
S1: 125.32
S2: 124.74
S3: 124.15
Trading recommendation:
We are long EUR from 124.65 and we will move our stop higher to 125.25.
The material has been provided by InstaForex Company - www.instaforex.com