EUR/JPY - Weekly
EUR/JPY - 4 Hourly
Wave summary:
We continue to look for more upside towards 137.36 to complete wave D of the huge triangle consolidation, that has been building since July 2012. This [B]-wave triangle should ultimately break higher for a rally to above 170.00.
Short-term, we are looking for support at 130.43 for the next push higher towards 134.80 and then 137.36.
R3: 134.68
R2: 132.65
R1: 131.40
Pivot: 131.00
S1: 130.85
S2: 130.42
S3: 129.64
Trading recommendation:
We are long EUR from 128.50 with stop placed at 129.55. If you are not long EUR yet, then buy near 130.45 and use the same stop at 129.55.
