EURJPY Medium Term Outlook

The move higher through 99.50 triggered a long trade last week and the pair has since moved up. We look to raise our stop to a tight 99.00. Target levels are 100.76, 38.2% pullback of loss from 111.45-94.11, then towards 101.65, June peak and possibly 1.0239 (261.8% extension from 94.11-97.36). This would be the maximum target and we would then look for a correction lower (in a possible right shoulder)