Wave summary:
EUR/JPY breaks above resistance at 131.40 confirming our count for more upside pressure towards 137.36 to complete wave D of the huge triangle consolidation. We now see support at 130.42, which ideally should protect the downside for the continuation higher, but only a break below support at 129.64 will question our count.
R3: 134.80
R2: 132.65
R1: 131.40
Pivot: 131.00
S1: 130.42
S2: 129.64
S3: 129.03
Trading recommendation:
We are long EUR from 128.50 and will raise our stop to 129.55. If you are not long EUR yet, then buy near 130.42 and use the same stop at 129.55.
