EUR/JPY profit target reached, prepare to turn bullish

Source: Forex Analysis

Price pushed down strongly towards our profit target yesterday. We turn bullish above 121.11 support (Fibonacci retracement, horizontal swing low support) for a bounce up towards 122.22 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (21,5,3) is seeing strong support above the 5.4% level.

Buy above 121.11. Stop loss at 120.50. Take profit at 122.22.


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