EURJPY LONG

The monthly and weekly chart has shown a w formation that has been mad. On both charts, price has now reached the previous area of resistance and is now acting as support. I am expecting price to reject the area and rise to the 124.200 area, however, because on the daily and 4hr chart price is consolidating, I will wait for a breakout as confirmation. The weekly shows price has rejected support; however, if price moves downwards, my target will be the 120.000 area. Let me know what you think.