Wave summary:
EUR/JPY has barely moved into a dull holiday Market. We continue to look for a final spike higher to 137.37 to complete wave (D) as long as minor support seen at 133.57 is able to protect the downside. From 137.37 or upon a direct break below 133.57 renewed downside pressure towards 131.14 is expected on the way towards the ideal (E)-wave target seen at 123.43.
R3: 136.05
R2: 135.75
R1: 134.90
Pivot: 134.40
S1: 133.84
S2: 133.62
S3: 133.24
Trading recommendation:
We are long EUR from 134.10 with stop+reverse at 133.55.
