In early Asian session, EURURJPY plunged from the 133.50 level and went all the way to the 132.50. It found support at 61.8% retracement of the previous swing high and low with a bullish harami on the 5 MTF chart indicating a reversal. An 1-2-3 pattern confirmed the reversal at 6.15 (5:15 GMT) and the breakout of the upper resistance line of the reclining channel. The profit target is at 133.00 level and second target at 133.50.
For the day, EURJPY managed to recover from early morning loss during the asian session at about 15 minutes prior to New York open.
