EUR/JPY: Wedge Break?

 | Jul 11, 2013 08:44AM ET

Currently we are at 129.58 in a wedge. Despite yesterday’s volatility the pair was still not able to start the 5th wave. We are looking for a bullish continuation to the R6 at 131.16 with the next target the resistance cluster top at 131.95. The average daily true range (ATR) for the pair currently is 62 pips.