EUR/JPY is now under the long-term resistance line & Wolfe line 2. Both are resistance.
On the other hand, mid term trend line & Wolfe Line 1 are still good support lines and
cross into 133.72 on July 28w.
However EUR/JPY is now very critical because it will breakdown through ex-wedge
upper line (Phase into a bullish from a strongly bullish....)
Therefore this type of correction needs more time to come back to a normal bullish Phase.
If it will reach at 133.72 area, it will move up strongly again.
Nikita FX (climbingfx.jugem.jp/ )
On the other hand, mid term trend line & Wolfe Line 1 are still good support lines and
cross into 133.72 on July 28w.
However EUR/JPY is now very critical because it will breakdown through ex-wedge
upper line (Phase into a bullish from a strongly bullish....)
Therefore this type of correction needs more time to come back to a normal bullish Phase.
If it will reach at 133.72 area, it will move up strongly again.
Nikita FX (climbingfx.jugem.jp/ )