Elliott wave analysis of EUR/JPY - Short term count

EUR/JPY

Today's Support and Resistance Levels:

R3: 141.29

R2: 140.98

R1: 140.87

Current Spot: 140.55

S1: 140.42

S2: 140.08

S3: 139.43

Technical Summary:

Important resistance at 141.55 protected the upside to perfection and I'm now looking for the final decline in blue wave v towards 139.43 before the next meaningful correction should be expected. Once blue wave v is over it will only mark wave one of the larger degree and following the correction from 139.43 towards 141.55 and maybe slightly higher will be wave two, and will be followed by a new powerful decline in wave three.