EURJPY is in a very strong recovery since it came out of the fourth-wave triangle back in April of 2025. Notice that we can already see five waves up from that 158 area, but it’s not easy to call exactly where this fifth wave will finish. Seems like there is an extension going on with room up to 188 – 190 area. So the current slowdown can be just another correction, ideally black wave IV, which so far found support at 181-180 area, and it could be forming a bullish triangle pattern so be aware of bullish resumption into wave V. Any new leg down below 180 would alternatively signal that correction is more complex, but still part of an uptrend.
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