EUR/JPY is correcting the rally from 114.42 to 148.40 and has likely just completed an X-Wave. The instrument is expected to start a new zig-zag correction towards 134.00 anytime now. Short-term we would like to see a break below minor support at 143.60 to confirm that wave X has completed at 145.32 and the expected zig-zag towards 134.00 is unfolding. Only a break above resistance at 145.32 will keep the X-wave alive.
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