EUR/JPY is currently testing key-resistance at 130.56 and we expect a temporary break above followed by a correction towards 129.63 before the next rally higher trough the key-resistance to confirm the final impulsive rally in wave 3 towards 135.42.
A break above key-resistance at 130.56 will give us a failed S/H/S top pattern and failed patterns often result in strong moves in the opposite direction of the failed pattern. The S/H/S top would indicate a decline, while the failed pattern calls for a rally instead.
The material has been provided by InstaForex Company - www.instaforex.comfrom RobotFX
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