(CLICK ON THE CHART TO ENLARGE IT)Honestly I wasn´t expecting this huge bullish move today. If u have followed my post yesterday and bought at failure at 154.55, all of my targets were hit, which were: 155.80 and 156.50. And if u have followed the EUR/JPY throughout the day, well u know, you would have made the whole today´s move of 445 pips (from 154.55 to today´s high at 159.00). Not bad huh?
Getting back to the 5 wave counting, the 2nd sequence finished at today´s high at 159.00. Now comes the steeper 3rd sequence that should go to at least the end of the 1st sequence at 154.50. Another 450 pip move? Hum, that sounds very hard to happen. So expect some bounce back on finonacci levels of the 2nd sequence (I won´t draw it in the attached chart in order not to get it with too many lines).
Points are: Sell at break of fibonacci levels of 1st sequence, which are: 157.75 (61.8%), 157.15 (50%), 156.50 (38.2%), 155.80 (23.6%) and finally 154.50 (see yellow fibo lines).
