Wave summary:
We continue to look for more downside pressure, but we must accept a short-term spike closer to 135.48, before the renewed pressure should take EUR/JPY lower to 134.10 on the way to 131.11 and longer term down to the ideal wave (E) target at 123.43.
Only a break above 136.30 will question this count.
R3: 136.30
R2: 135.83
R1: 135.48
Pivot: 134.71
S1: 134.10
S2: 133.90
S3: 133.63
Trading recommendation:
We are short EUR from 134.75 with stop placed at 136.50
