EUR/JPY is correcting in wave iii. It may lift to the 120.79 - 121.09 before tuning lower towards the ideal target-zone for wave v between 118.85 - 119.24. Wave iv will move slightly above resistance at 120.43 before tuning lower towards the expected target-zone from where a new impulsive rally is expected.
R3: 121.09
R2: 120.79
R1: 120.43
Pivot: 120.20
S1: 119.90
S2: 119.75
S3: 119.50
Trading recommendation:
We are looking for a buying opportunity near 119.24
