EURJPY - We look to Buy a break of 122.15
|EURJPY - We look to Buy a break of 122.15 (stop at 121.75)
EURJPY - Continued downward momentum from 122.88 resulted in the pair posting net daily losses yesterday. Buying posted in Asia. The 161.8% Fibonacci extension is located at 121.68 from 122.87 to 122.14. Price action has formed an expanding wedge formation. The conflicting views have resulted in the immediate outlook being hard to interpret. The sequence for trading is lower lows and highs. Bias is mildly bullish today but we need to see a break of 122.15 to confirm the upward pressure. Our profit targets will be 124.00 and 125.94.
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