Trend is down in EUR/JPY currency pair in 15 minutes time frame. Short term resistance is present at 133.51 price level. As expected price moved sideways after printing bearish impulse wave 3. Based on Elliott wave analysis, I expect price to continue the decline towards 132.75 price level in coming trading hours. However; a bullish break out in market above 133.51 resistance level will end the down trend in EUR/JPY currency pair. In such case I will stop trading and re-analyze the price action.