EUR/JPY peaked at 130.15, just below the ideal target at 130.20. Now we expect the resistance at 129.64 - 129.92 zone will cap the upside for renewed downside pressure towards 123.66 in wave C.
Only an unexpected break above 130.15 will revive wave B for a move closer to the 61.8% corrective target at 130.65 before completing wave B and setting the stage for wave C lower.
We closed out the final 50% of our long position from 127.75 at 129.30. We will sell EUR at 129.50 and place our stop at 130.25.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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