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EUR/JPY Surges As Yen Weakens

EUR/JPY is trying to breakout above the W L3 which became a support. We could see further strength if the neckline breaks.

The POC is a bouncing zone. 129.65-75 where buyers are. Look for a trend line break and continuation of the move. Targets are 130.42, 130.58 and potentially 131.05. Only if the price breaks below 129.65 we could see a move down which will be a sign of Yen strength.