EUR/JPY is unfolding the scenario according to expectations. After a temporary recovery in wave B to 146.73, we saw a strong decline as wave C took over. The ideal target for wave C is seen at the origin of the ending diagonal near 133.00.
In the short term, we see resistance at 142.70. If broken, a retest of the former support line of the ending diagonal near 143.80 could be seen before renewed downside pressure towards the 133 target.