We will be looking for a short opportunity around the 123.80 region, with stops above the 124.00 even level. Targets can go around the 123.45 – 123.30 region.
We have two key levels to watch on this pair. First is the 61.8 retracement around the 195.00 even level. The other is a potential Bat pattern completion at 195.60. A conservative stops can go above the 195.90 level; while an aggressive stops can be place just above the 195.40 level. First target can be placed at 194.00, and the extended target can be placed at 193.40.
We can look for a short opportunity should price retrace back to the 138.85 region. Stops have to go above the 139.20 level with potential targets at 138.20 and 137.80.