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.
Comments
chessnut
⋅
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.