EURJPY - Posts an exhaustion count

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EURJPY - Intraday - We look to Buy at 120.65 (stop at 120.25)

5 negative daily performances in succession. There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 120.78. The selloff has posted an exhaustion count on the daily chart. We have a 78.6% Fibonacci pullback level of 120.68 from 118.82 to 127.50. Preferred trade is to buy on dips.

Our profit targets will be 121.60 and 122.72

Resistance: 121.60 / 122.72 / 125.47
Support: 120.78 / 120.68 / 118.95