EUR/JPY dipped to the 61.8% corrective target of wave i at 123.41, which also where the support line from the 114.40 low was seen. This solid support is expected to protect the downside for a break above minor resistance at 123.99 to confirm wave ii has completed and wave iii towards 128.02 is unfolding.
We are long EUR from 123.48 with our stop placed at 123.00. Upon a break above 123.99 our stop will be raised to 123.30
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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