EURJPY Chart Technical Outlook corrects higher, 162.85 can cap gains
EUR/JPY’s broad bias is bearish. Prices have been correcting higher this month, and a three-wave structure WXY has been developed. Wave (e) of Y is in play with room to spike higher toward 162.85 (61.8% Fibo level). I expect sellers to cap the gains. Supports are located at 160.50-159.00.
