Elliott Wave Analysis: EURJPY Intraday View

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.