EURJPY is on the rise and has already broken above the 78.6% Fibonacci level, strongly suggesting that the market is aiming to retest the 2024 highs. So it appears that the consolidation from July 2024 to April 2025 was wave four, especially considering the strong and extended rally from the 161 area in the last two months. This move also broke the upper base channel near 170, supporting the idea that we are in a new five-wave rally within a higher-degree wave five. So after current wave IV consolidation, watch out for another, maybe final push to the upside for wave V of (V).
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