We have 3 Wave's here that I want to take a look at.
1. The first on the left completed in late 2014 at the 1-4 target line.
2. While the first was carving its path to the 1-4 line. A second formed. Here we created a 5" structure with the Geo's Off-Set Rule #3 at point 3.
3. The final was formed as usdjpy started to decline. Again it formed a 5" structure so we look at Geo's Off-Set Rule #3 at point 3.
From here there are two ways it can go. It can go to point 3 of the final or create newer lows and reach point 3 of the second .
Bullish Wolfe Wave formed in smaller timeframe. Still looking at 115.90-116 as the 1st target in this chart.
Target Hit at Geo's Off-Set Rule #3 at point 3