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11.05.2021 09:00 AM
EUR/JPY continues to rally higher as expected with the next upside target is seen at 133.66 as the next ideal upside target. This rally should complete wave 3/ and set the stage for a correction in wave 4/ towards at least 130.86. The pair may approach the 38.2% corrective target at 129.06 before reversing again to above the wave 3/ peak at 133.66 in wave 5/ of 3.
In the short term, we see support at 131.87 with key support at 131.02.
Trading recommendation:
Take profit near 133.66 or upon a break below minor support ay 131.87.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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