The preferred wave count and the alternate wave count suggests that we will have a wave B to the upside now. With the preferred wave count taken into consideration, we may see that we have 5 waves forming the WAVE A. A five-wave A indicates a zigzag
for wave B. If we take the alternate count into consideration, we have 3 waves forming the WAVE A. A three-wave A indicates a flat or triangle. So we may expect a choppy move to the upside now in EURJPY
. With that said, the hourly charts can be traded on a bullish
bias using pullbacks and 0.382 and 0.618 fibonacci levels.