EUR/JPY currency pair analysis

The general trend is ascendant. The descendant truncated wave structure has finished breaching the price channel. The entry point is forming on the correction wave B, as the supposed wave (B) is truncated. Awesome Oscillator indicates bullish divergence.

Trading idea:

Buy when 137.377 level is breached.

Stop-loss: 136.500.

Target levels: 137.980 (a bull trap); 139.200 (round secondary level + 138.2% Fibo).