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17.05.2021 06:11 AM
EUR/JPY is in the final leg higher to the 133.66 target from where we should expect a correction in wave 4/ towards at least 130.82 and likely even closer to the 38.2% corrective target seen at 129.06. In the short term, a break below minor support at 132.00 will indicate that wave 3/ is complete and wave 4/ lower to support in the 129.06 - 130.82 area is in motion before rising higher again in wave 5/ towards 137.19.
Trading recommendation:
Sell long positions in EUR/JPY near 133.66 or upon a break below 132.00 and look for a new buying opportunity near 129.06
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