The EUR/JPY has formed a cup with handle pattern and we might expect further continuation to the upside.
A retracement towards the POC zone 121.65-75 could be used for a possible entry. Bulls are waiting for a new push above D H3 camarilla pivot. The price is bullish but also in a retracement mode. 122.00 is important support so the pair could also bounce from it too. Targets are 122.46, 122.70 and if bullish momentum persists – 123.09.
The Analysis has been done with the CAMMACD.Core and Sit Systems
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This article was originally posted on FX Empire
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