Here EUR/JPY can be in wave 4 of 5 wave down and its  less probable - wave 4 is too big and broke a little top of wave 3. It can be true and non regular move down if price breake trend line of move up.

And I will put my money that its new move up. We are at top of wave (3) now it will be move down - and it should end somewhere near of Fibo grouping of (1) - (3) and (2) - (3) and trend line. Than it can be good trade for wave 5.
Now few analysis:

First of all strong EUR/USD setup thnx to Greenhaze for W1 few.

On H1 chart there is 5waves move up - where 5 = 1.

But on W1 chart we can see how strong this setup can be (and of course it can be not end of wave 5 - it can go up a little bit more)

Taking this one with standart rules (H1 short signal first, than 5min signal) can let to get in trade with little SL and big potential of trade.

First of all - last week summaton of last week transaction.

Not many trades. First week after short vacation.

2 - trades. 2x SL and:

-15,5 pips