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EUR/JPY has tuned strongly higher from a low of 130.04 and quickly eclipsed short-term resistance at 130.89 indicating that wave 4/ was complete and wave 5/ towards 135.42 now is in motion.
Short-term we should see a temporary corrective set-back into the 130.61 - 130.86 area from where the next impulsive rally higher towards the wave 5/ near 135.42 should be seen. A break below minor support at 131.22 will call for a dip into support in the 130.61 - 130.86 area before the next push higher towards 133.64 and then 135.42
Trading recommendation:
If you are not long already near 130.89 a second chance to load up EUR in the 130.61 - 130.86 should be expected
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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