We continue to look for a little more upside closer to 132.85 to complete the wave B and set the stage for the final decline in the wave C closer to our long-term target at 123.43.
Ideally, EUR/JPY will continue to move higher directly from here, but it's allowed to move a little lower, but should respect support at 129.97 as a break below this support will indicate that the wave B could have completed pre-maturely and the wave C lower already being in motion.
R3: 132.43
R2: 131.86
R1: 131.30
Pivot: 130.76
S1: 130.55
S2: 130.25
S3: 129.97
Trading recommendation:
We will sell EUR at 132.70
