Wave summary:
EUR/JPY is fighting to maintain the rally in wave D intact, but obviously it's becoming quite a struggle. However, as long as minor support at 133.24 is holding firm, the uptrend remains firmly in place for a possible push higher to 134.80 and 136.14 on the way towards the ideal wave D target at 137.36.
If however support at 133.24 is broken, that will weaken the uptrend and call for a decline to at least 132.00, before the possibility of a new rally higher.
R3: 136.14
R2: 134.80
R1: 134.39
Pivot: 134.00
S1: 133.24
S2: 132.00
S3: 130.55
Trading recommendation:
We are long EUR from 131.76. We will lift our stop to 133.15. We will take half profit at 134.80.
