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.