EUR/JPY - Long term Elliott Wave Count.

EUR/JPY - Long Term Count

I wanted to show you, what my longer term expectations are. As can be seen we have a five rally in place from the 94.10 low to the 145.69 high. Every complete five wave rally has its surprises and in this case it was wave 4 as it turned out to be a rare skewed triangle. It took me some time to figure out what was going on, but finally got it and  at the same time had the possible target area for wave 5 as the end of wave 5 ideally should end within the 78.6% - 100 % of the length of wave 4. Wave 5 ended slightly above the 78.6% target of wave 4 at 145.36.

So what can we expect next?

I'm looking for a correction towards the 38.2% corrective target at 126.03, which also happen to be in the middle of wave 4 of one lessor degree. It's still to tell which corrective pattern this corrective decline will be, but I'm look for a simple zig-zag until I perhaps is proven wrong. So for now stay focused towards the downside.