Technical summary:
As the euro was reinforced after a less dovish ECB press conference, a break above 148.19 and even 148.25 was seen. That said, we are still holding below the top at 149.13, which is an invalidation point for our bearish count. In the short term, we will look for new signs of weakness in a form of a break below minor support at 148.11 and more importantly a break below support at 147.28 that would call for wave c lower to 145.35 and possibly even lower to 143.15 if wave c extends.
Trading recommendation:
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For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/JPY for December 5 - 2014 . Thanks for your support.
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