As we see price is moving lower towards its target in red wave 3 of blue wave 3 of red wave C as we projected in previous daily EURJPY analysis. Because we are in third wave which has impulsive characteristics and reaching its target smoothly. The ideal target for red wave 3 is near 128-127.50 area where we will find correction. red wave 2 was flat and we expect the wave 4 can be extended double zigzag or triangle combination towards 130 area before final rally down towards 125. But in long term we are seeing much lower.
Refer to my last post of EURJPY in which we finalize our medium term analysis on daily candle chart on 17 Nov, 2015.
muhiuddin
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