The EUR/JPY is ranging but there is a possibility that the price will bounce. Watch for the POC zone or break higher.
At this point we can see that the price is rejecting D H3 and the lower trend line. We could see a bounce towards the D H5/W H5 128.92. However if we see a retracement, watch for 126.70. There, buyers might be waiting to spike the price up. The final target is 128.92. A break below 126.60 and bears are taking control.
The Analysis has been done with the Black Widow system.