EUR/JPY Cup With Handle Pattern Suggests Further Gains
|The EUR/JPY has formed a cup with handle pattern (blue rectangle) and currently it is targeting D H4/ 100 % Fibonacci extension confluence. The POC zone serves as a strong support and possible now moment buyers could buy from the zone if we see a retracement into the POC zone. The POC 124.30-50 (EMA 89, trend line, handle top, ATR pivot, 61.8 Fib extension). EUR/JPY is targeting 124.98 and if we see a 1h breakout or 4h close above the level then 125.30 is possible.
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