Wave summary:
EUR/JPY has bounced back and is again trading near resistance at 133.24. A clear break above this resistance, will call for a new rally closer to 133.71 before renewed downside pressure should be expected. The top at 134.50 should remain safe.
Only a direct break below minor support at 132.78 we add renewed downside pressure towards 131.14 and below.
R3: 133.71
R2: 133.46
R1: 133.24
Pivot: 132.78
S1: 132.46
S2: 131.95
S3: 131.70
Trading recommendation:
We are short EUR from 132.55 with stop placed at 133.35.
The material has been provided by InstaForex Company - www.instaforex.com