EURJPY is in what seems to be a triangle consolidation. However it is unclear yet whether wave (e) is already in place or whether we are still correcting for wave (d) comparable to what we saw for wave (b).
Nevertheless, short term I expect to see a consolidation which should be followed by a bearish continuation.
I will therefore be looking for a sell continuation trade on lower time frames.
Updates will follow
Nevertheless, short term I expect to see a consolidation which should be followed by a bearish continuation.
I will therefore be looking for a sell continuation trade on lower time frames.
Updates will follow
However if we see an acceleration higher from these levels I will be adjusting towards a W-X-Y consolidation. A wave 'Y' can't be motive and what I counted to be wave 'A' of the possible wave 'Y' shows three waves as well, which means that both scenario's respect all the rules.
So keep an open mind, look for impulse consolidations either way.
Updates will follow.