Sell on a level breakthrough of 123.40 with 122.45 target. Stop loss = 123.90.
Reason for the trading strategy
Extremely high volatility of the EURJPY pair due to expectations of a forthcoming change in the parameters of the Eurozone monetary policy and the possibility of the Bank of Japan to intervening to weaken the yen. From the technical point of view, a breakthrough of the support level of 123.4 may provoke the pair to decrease to the February low.