Elliott Wave Analysis: EURJPY Intraday View

FX:EURJPY   Euro / Japanese Yen
EURJPY             is making a small consolidation above 113.40 which looks like a wave (iv) within a five wave decline from 116.07. As such, new leg down may occur today, wave (v) to complete larger degree of a blue wave one at 113.00-113.15 zone. From a trading perspective we will keep an eye on wave two bounce that may show up by the end of the week.
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