EUR/JPY: sell target - 134.00
By: Dmitriy Chernovolov
- EUR/JPY falling inside impulse waves (iii), 3 and (3)
- Next sell target - 134.00
EUR/JPY continues to fall inside the minor impulse waves (iii) and 3 - which belong to the extended intermediate downward impulse wave (3) from the start of June (as you can see below). The active impulse wave (iii) started earlier this month – when the pair reversed down from the resistance zone lying between the resistance level 134.00, upper daily Bollinger Band and the 61.8% Fibonacci retracement of earlier downward price impulse from October.
EUR/JPY is likely to fall further in the active impulse waves (iii), 3 and (3) toward the next sell target at the support level 134.00.