EURJPY: Watch for Longs at Key Support Level

After breaking above the upper parallel of a long term downsloping median line, price rallied till the 1.2400 level and it has been in a correction since then. The upsloping green median line has been working very well, with price finding support and resistnace several times at it's parallel. It is now heading towards a sliding parallel where it found good support previously. Any buy setup completion at this parallel will be a very nice buy opportunity.

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Price has reached the sliding parallel. Keep a closer eye for a buy setup completion based on your strategy. I will update when a median line setup completes.