EURJPY UPDATE V : EURJPY May Reach Higher Levels

On the 4h chart, we see that black correction A-B-C is completed, because of sharp impulsive action to the upside. That said price may reach higher levels. It has already made three waves up, with an extended structure in blue wave (3). After blue wave (3) is finished, the trend may face a correction in blue wave (4), which may move to the area of previous red wave 4. We think that correction may occur in the next 24-48 hours.