EURJPY – Outside day offers and upside bias

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EURJPY - Intraday - We look to Buy at 120.63 (stop at 120.28)

Bullish Outside Day posted, a pattern that often indicates the end of a bearish run and the start of a new upward bias. Levels close to the 78.6% pullback level of 120.68 found buyers. Broken out of the channel formation to the upside. Reverse trend line support comes in at 120.60. Bespoke support is located at 120.63. Preferred trade is to buy on dips.

Our profit targets will be 122.34 and 122.48

Resistance: 121.21 / 122.34 / 1.2248
Support: 120.60 / 120.00 / 119.50