Yesterday I saw a lot of analysis predicting a huge decline in the EURJPY
, I dont think so. If you observe the last impulsive movement, have some peculiarities. The 3rd is extended, and I understand why when the 5 exceeded a bit the 1 to 1 proportion with the 1st wave people get excited to anounce the end of the wave, but i think that there are more guides that could lead to the contrary opinion. For example, usually when the channel formed with the 1 to 3 ends and projected from the 2nd wave end gets break, indicates that the channel formed from 2 to 4 and proyected from 3 will be exceeded.
There are other ratios for wave 5 vs wave 1, for example 1.618 and 2, that seems more apropiate given the actual price positon in relation with the 2-4 channel.