EUR/JPY seems to have completed wave B/ and wave C/ may drop lower to 124.41. We may see the expected drop to 124.41 over the coming days. Once the final leg of wave 2/ is completed near 124.41, a new impulsive rally higher to resistance at 129.23 is expected.
Short-term support is seen at 126.10 and again at 125.77 on the way lower towards 124.41
R3: 127.05
R2: 126.74
R1: 126.52
Pivot: 126.27
S1: 126.10
S2: 125.77
S3:125.34
Trading recommendation:
We will buy EUR at 124.50
