FX.co ★ EurJpy aiming higher towards 127.00. Hold long positions

Technical outlook and chart setups:

A daily chart view have been presented today gor swing study. Please note the following facts:

1. The single currency pair has been in an uptrend since sub 90.00 level. Major supports are lines up from 117/116, 113.00, 106.00 through 100.00 as depicted here.

2. The inner trend line seems to be broken and prices found support from sub 119.00 level as seen here. This is the immediate intermediary support at the moment.

3. After that, a rally through 126.00 took off past resistance and prices have reversed towards 122.00 finding support there.

4. Looking at the wave structure, the upcoming targets should be at least around 130.00 if not higher. It is indicated by arrows here.

5. It is recommended to hold long positions taken yesterday and look to add further on dips during intraday moves.

Trading recommendations:

Remain long, stop is at 121.00, and target is above 128.00.

Good Luck!