This is a big level in EURJPY. Approaching a short-term support level on a minor count. As per EW rules, Wave 4 cannot go below Wave 1. As you can see we are close, but this is a minor count.

On the EXPANDED DAILY we can see the major trend and a slightly different picture. The major trend has a deeper count.

What we need here is patience. We will watch more price action to make a determination. There are some signs in markets that point to a deeper correction (rates, equity indices, commodities).