EUR/JPY:- Target 1 Achieved!
EUR/JPY:- We have now seen EUR/JPY fulfil its first upside target region of 130.300 and could yet to see a further 100 PIP push to the upside.
The currency pair remains strong, although a weak day on Tuesday may lead to a slight correction in price after equalling the previous highs. A lot will depend on the strength of the current resistance level because a strong break and closure of this price would lead to a continuation to 131.300, and 132.00 eventual upside target.
I will be monitoring trades positions throughout the day to account for any retests of the 130.000 weekly level of support. Also, retests of the Daily Moving Average to provide rebound or bounce opportunities. Investors will be aware of the upcoming ECB Announcements that may provide the liquidity needed to cause a dip in price before finding new support levels.