Price just broke out a consolidation patern it was forming for a few weeks, to trade it will be likely to wait for a retracement around the breakout area and go long, possible target 122.50 although taking profit earlier would be a good idea. Lets see how this goes.
The pair has formed a great pin bar at an area with many points of confluence, first price has denied major psychological level 90.00 wich aligns with 50% fib retracement of previous bear move, on top of that it is a retest of short term trend break and 150 EMA test all of wich might act as resistance.
Risk wise, the first area where price might have trouble...