Wave summary:
EUR/JPY has rallied nicely and in a clear impulsive character indicating more upside pressure to come. That said, short-term we might need a deeper correction from 124.46 closer to the 123.17 - 123.45 area before the next impulsive upswing towards 125.82 and above.
R3: 125.10
R2: 124.71
R1: 124.46
Pivot: 124.00
S1: 123.99
S2: 123.45
S3: 123.17
Trading recommendation:
We will buy EUR again at 123.25 or upon a break above 124.46.
