On the lower time frames we see a clear impulse higher and I'll be looking for the consolidation to buy EURJPY . If we won't see that happen price might still consolidate in a triangle correction which will most likely be followed by a continuation. The continuation will bring price in the short term towards 115 before I expect to see another consolidation. So depending on what time frame you prefer to trade, waiting for the next consolidation to buy the possible continuation seems like a good idea.
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But don't worry if you missed the buy because if this is the start of the bullish move towards 151 we will see 5 waves so the safest and best trade has yet to come once wave 2 settles. (the wave count in Red is only of minor degree so not the wave 1 and 2 in terms of the potential move towards 151.
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The process of looking for a trade stays the same, I like to see a minor bearish impulse (which we saw) followed by a consolidation which might be currently in progress to sell the continuation. Once we see that happening we can determine what will be next in terms of the bigger picture. Either way this pair seems to provide us with many trading opportunities in the near future.
now i am wondering if the pair will be back after 38.2 fib or it will continue the sell trend for a little more...if we are in the C wave ( I also believe that) i think the up trend will come back now, once we can see the 5 internal waves finished... this Monday we will know it. in the meantime have a nice weekend :)