Wave summary:
EUR/JPY will remain positive above minor support seen at 134.84 for more upside pressure towards 137.37 to complete wave (D). A break below support at 134.84 will be the first warning of possible exhaustion, while a break below support at 134.26 will confirm that wave (D) is completed and wave (E) towards 123.43 is now developing.
R3: 136.55
R2: 136.05
R1: 135.63
Pivot: 134.84
S1: 134.58
S2: 133.89
S3: 133.58
Trading recommendation:
We are long on EUR from 134.10 with stop placed at 134.75. We will also revers our bought position to a sell EUR position at 134.75.
