EUR/JPY has seen a new low at 131.21. This new low is likely the b-wave of an expanded flat correction in wave ii. A break above minor resistance at 131.84 will confirm this view and call for a return to the resistance near 132.54 in wave c of ii before turning lower again in wave iii towards at least 129.94.
R3: 132.14
R2: 131.84
R1: 131.55
Pivot: 131.20
S1: 131.10
S2: 130.76
S3: 130.46
Trading recommendation:
A new EUR-sell order is placed at 132.40.
