EURJPY has formed an abnormal SI of 173.7 on the last down wave after the Fib Hit
This is how to analyze:
Switch to a lower timeframe. In our case we will switch a tick chart of approximate 1HR ticks per bar.
Starting from the top of the down wave we are coming down with small down waves until we stall get into a range.
Up waves are getting greater than down waves.
Finally we get a classic entry from Plutus - Exit from range with PRL - (Plutus Reversal Long)
Therefore Long we go 170 pips