The EUR/JPY is getting close to the POC zone. The zone is making a confluence of pivot points and 88.6 fib retracement. We could see a bounce.
125.30-40 zone is a possible bouncing spot for the EUR/JPY. We can also see the Bollinger Bands support close to the zone. If we see that W L3 holds than bulls might have a fresh wave up. Targets are 125.65, 126.07 and 126.62. However, a break below 124.83 might lead the price to 124.25, W L4 support.
The Analysis has been done with the CAMMACD.Core
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This article was originally posted on FX Empire