[B]My picks:[/B] short EURJPY at market, stop 137.50, target below 124.40
[B]Expertise:[/B] Technical
[B]Average Time Frame of Trades:[/B]

The 5 wave decline in the EURJPY from 137.46 to 124.37 suggests that the long term downtrend has resumed. The rally from 124.37 is in 3 waves and confirms the bearish bias. A bearish bias is warranted as long as price is below 137.46 (the origin of the 5 wave decline). The minimum objective is below 124.37.