WaveSavvyTrades

UPDATED EURJPY ANALYSIS

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OANDA:EURJPY   ユーロ/円
The weekly chart seems to show that there could be further correction to the upside before the final dive. I have extrapolated this to the daily chart and they seem consistent. If this hypothesis is correct, I expect a bit more of a correction to the upside to complete wave 2 (price level of about 144.95 - 145.2) before the big dump. If price gets to wave 2, it will also form a head and shoulder pattern which is also a bearish pattern and the likely target for the dive is the 200 weekly MA.

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