Wave summary:
EUR/JPY has failed to break clearly below important support at 131.60, which tells us, that a larger correction into the 132.96 - 133.32 area is developing before renewed downside pressure should be expected.
To confirm that wave (D) has completed, we still need a firm break below support at 131.60, that will confirm wave (E) towards 123.43 is developing.
R3: 133.32
R2: 132.96
R1: 132.64
Pivot: 132.30
S1: 131.95
S2: 131.60
S3: 131.09
Trading recommendation:
Our stop at 132.00 was hit for a 40 pips loss. We will sell EUR again at 133.20 with stop at 134.55
