EUR/JPY - Correction to 141.40 before higher to 146.15

EUR/JPY is correcting to 141.70 before higher to 146.15 

Red wave iii extended directly to the next target at 144.64 (the high for red wave iii came in at 144.22). We are now in red wave iv, which should correct lower to 141.70 before the next impulsive rally higher to 146.15 in red wave v and to end wave iii. 

Short term I expect minor resistance at 143.46 to protect the upside for a break below minor support at 142.83 to confirm the decline in red wave iv to 141.70. 

Thomas
2014-05-28
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2014-09-14
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2014-05-26
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