Traders just whacked the carry trades and equity markets, sending the EUR/JPY currency pair well through Todd Gordon's minimum wave 3 target of 155.60.
Late day carry trade weakness has pulled EUR/JPY down through the last acceptable support level that allows us to call this upwards-trending correction still intact.
It appears the Dow wants to check in with 13,300 before we retest the lows, so searching for USD/JPY and EUR/JPY intraday long setups while this plays out is not unjustified.
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