EURJPY may be forming a bullish setup, with waves A/1 and B/2 developing after recently finding support within a completed higher-degree ABC correction in Wave 4. Once the current Wave B/2 correction fully unfolds, watch for a potential continuation higher in Wave C. The pair could recover at least toward the 183–184 area for Wave C, or possibly extend further into Wave 3 if price breaks decisively above the channel resistance near the 185 area. A confirmed breakout above resistance would strengthen the bullish outlook and open the door for a larger impulsive move.
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