Wave summary:
EUR/JPY continues to follow the expected path lower towards the next downside target seen at 128.69.
Short-term resistance is seen at 130.41 and again at 130.89. The later one should be able to cap the upside for the expected decline lower towards 128.69.
R3: 131.15
R2: 130.89
R1: 130.41
Pivot: 129.80
S1: 129.40
S2: 128.96
S3: 128.69
Trading recommendation:
We are short EUR from 131.45 and we will move our stop lower to 130.45 and take profit at 128.85
