EUR/JPY is correcting in wave iii. It may lift to the 120.79 – 121.09 before tuning lower towards the ideal target-zone for wave v between 118.85 – 119.24. Wave iv will move slightly above resistance at 120.43 before tuning lower towards the expected target-zone from where a new impulsive rally is expected.
We are looking for a buying opportunity near 119.24
The material has been provided by InstaForex Company – www.instaforex.com