EUR/JPY continues to push lower indicating that a more complex wave ii correction is developing. This suggests the more downside pressure towards the support area between 123.85 - 124.05 before the wave ii completes and the wave iii goes up towards at least 132.49.
Only a direct breakout above minor resistance at 125.58 will indicate that the wave ii has completed and the wave iii is developing.
Our stop at 125.25 has been hit, for a small loss. We will re-buy EUR at 124.05 or upon a breakout above 125.58.The material has been provided by InstaForex Company - www.instaforex.com