We are on a nice uptrend for this pair. As per the COT report, speculators are Buying EUR heavily and Selling JPY which adds to the probability of this pair going high.
The pair on Hourly chart already tested the 200 hour MA and bounced back. On Weekly chart, the pair has crossed above the 200 weekly MA and retested it.
This makes my bias for price to rise more to the next level of 127
TP @ 127
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Disclaimer: This is just an idea. Please do your own analysis before opening a position.