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The pair achieved the suggested scenario yesterday and reached the first main target of 122.25 and breached it to provide now more signs of an intraday upside move expected today. The negativity seen on momentum indicators could trigger some fluctuations before resuming the upside correctional move, targeting 124.25 and then 125.65. SMA 50 supports the bullish wave.
The trading range for today is among the major support at 121.20 and the major resistance at 125.65.
The short-term trend is to the downside as far as 150.00 remains intact targeting 112.00.
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