EUR/JPY is picking up speed with the break above minor resistance at 126.30. The additional upside momentum, will most likely make EUR/JPY break right through minor resistance at 127.09 for a continuation higher to 128.32 and 129.40 on the way higher to the 161.8% extension target at 133.55.
Support is now seen at 126.58 with key-support at 125.87.
R3: 129.40
R2: 128.32
R1: 127.65
Pivot: 127.03
S1: 126.58
S2: 126.30
S3: 125.87
Trading recommendation:
We are long EUR from 124.65 and we will raise our stop to 125.75.
The material has been provided by InstaForex Company - www.instaforex.com
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