EUR/JPY - Corrective low could be in place with the test of 121.69

EUR/JPY - Corrective low could be in place with the test of 121.69

EUR/JPY - Corrective low could be in place with the test of 121.69 

With a break to a new low at 121.69 a corrective low for wave [2] could be in place. If a low has been seen, we should soon see a break above resistance at 123.04 and more importantly a break above 123.57 confirming that a long term low is in place for a new impulsive rally to above 149.79. 

That said, we need to respect the possibility of a little more downside pressure towards 120.45 as long as minor resistance at 123.04 holds firm, but we are clearly in the final part of the corrective decline from 149.79 and a corrective low could be found anytime now. 

Roelant
2019-02-25
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Duane
2014-05-26
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2014-05-26
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