The EUR/JPY has formed a cup with handle pattern (blue rectangle) and currently it is targeting D H4/ 100 % Fibonacci extension confluence. The POC zone serves as a strong support and possible now moment buyers could buy from the zone if we see a retracement into the POC zone. The POC 124.30-50 (EMA 89, trend line, handle top, ATR pivot, 61.8 Fib extension). EUR/JPY is targeting 124.98 and if we see a 1h breakout or 4h close above the level then 125.30 is possible.
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W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)