chessnut
Short

EURJPY EW Analysis - abc complete, channel breakout, big potenti

FX:EURJPY   Euro Fx/Japanese Yen
120 1 5
I published a chart a while back describing the primary wave structure of the EURJPY             . Since we have corrected in an abc fashion as I forecasted the the EJ             is ready to begin wave iii             . This breakout is a great sell signal and has by guideline a minimum of 62% retrace potential, but we could be targeting multi year lows in this move.
I hate contradicting the larger trend with smaller analysis but the local count looks dangerous to bears here. this failed breakout could be wave V of an Ending diagonal, implying a swift reversal here to at least 141.
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