Elliott Wave Analysis: Triangle On EURJPY In Final Stages

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EURJPY is trapped in a higher degree corrective triangle pattern, with price currently turning down for sub-wave D that can decline to 113.00 this week after a turn down from 116.27 can be counted in five waves. We see it as wave (a) within a three wave decline, so more weakness may follow after wave (b) bounce back to 115.17 resistance area.