EUR/JPY Intraday: bullish bias above 123.20.

Pivot: 123.20

Our preference: long positions above 123.20 with targets @ 124.45 & 124.80 in extension.

Alternative scenario: below 123.20 look for further downside with 122.80 & 122.35 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
125.40 **
124.80 ***
124.45 ***
1223.880 Last
123.20 ***
122.80 **
122.35 **