Trend is bullish in 4 hours chart of EUR/JPY currency pair. Vital support is present at 137.96 price level. Since 4th June 2015, price is moving sideways in four hours chart and current price action looks like an Elliott wave bullish symmetrical Triangle pattern. I expect bullish Wave D leg now. The bullish Elliott wave count remains valid as long as price stays above 137.96 critical support level. If bearish candlestick closes below 137.96 critical support level then up trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.
