The reasons for buying are.
1. Zone has supported price on the past 6 attempts
2. Zone has held since February 2015
3. Fib 61.8 level is holding too
4. Price is bouncing and being supported by the green 50 and red 100 . also the 200 is sloping up.
10 - 20 pips Below Blue zone.
Even to the weekly would offer a risk reward of more than 1:2. Higher target are projected on chart which is just below 124.
If price breaks below the triangle i would wait for a retest of 118.29 and go short target 114.62 and stop above the triangle. this will again offer over a 1:2 Risk