We remain bullish expecting EUR/JPY to continue higher towards 127.50 as the next target. Only a break below support at 126.00 will delay the expected rally for a dip closer to 125.69 before the next rally higher.
Only an unexpected break below key support at 125.43 will question our bullish outlook.
R3: 126.93
R2: 126.57
R1: 126.25
Pivot: 126.08
S1: 126.00
S2: 125.69
S3: 125,43
Trading recommendation:
We are long EUR from 124.80 and will will raise our stop to 125.65.
The material has been provided by InstaForex Company - www.instaforex.com