EUR/JPY target of wedge breakdown already met (Nikita FX )

FX:EURJPY   Euro / Japanese Yen
This Chart shows us how my prediction of wedge breakdown worked.
The target of wedge breakdown was already met, so it is now on counter-rally.
However wave (128.22 to 122.55) has internal 3 waves structure which should be called
initial larger wave W and present counter rally would be a corrective wave X.
Therefore next larger wave Y would be much more downside.
If 124.23 won't be breached, the target will be 118.56 ( 1.272 extension could be 117.02 ) .

Nikita FX ( )


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