After a corrective decline from 132.44 to the 61.8% corrective target at 131.28 EUR/JPY is ready for the next impulsive rally to above the former peak at 134.12 towards the ideal target for wave 5/ and 3 at 135.42.
Short-term a break above minor resistance at 131.88 will indicate that sub-wave ii/ has completed and wave iii/ to above 134.12 is in motion.
Only an unexpected break below support at 130.04 will alter our bullish count.
Trading recommendation:
Buy EUR for a rally to 135.42 where profit should be taken. Stop on long positions should be just below 130.04
