I feel a bit of de-ja-vu. Only this time thankfully the is above 20 and there is some market . My first stop loss level or bid level if current support does not hold is just below 122.80 , after that 122.50. For persons entering long at this level (123.20 ish ).. Take profit levels will be at 123.50 123.80 and 124.00 , 124.50.
EURJPY bears should be careful and not anticipate sustained moves below 122.50 at this time, as the big players (banks) are basically all long EURJPY .
My next take profit target is about 15-15 pips away at 123.40.
I will evaluate how price responds to swing high of 123.55 to see if I will take full profits at this level or leave on, for further move to the upside.