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I can think of three possible reasons for this error:
1) Your JDK installation is faulty, as there is no JRE installed inside the JDK folder.
2) Your JDK is installed in a folder different from the one Eclipse is looking at.
3) You have a 32 bit Eclipse installation and a 64 bit JDK installation.
I think it's the third one. Eclipse is trying to find the JRE inside C:\Program Files (x86). The (x86) part indicates you have a 64 bit Windows installation, where 64 bit applications are installed inside C:\Program Files and 32 bit applications are installed inside C:\Prorgam Files (x86).
A 32 bit Eclipse installation can only use a 32 bit JVM, and a 64 bit Eclipse installation can only use a 64 bit JVM. Since Eclipse is looking for the 32 bit version, my guess is that Eclipse is 32 bit as well. As it can't find the 32 bit JDK folder, my guess is that the JDK is 64 bit.
If this is the case, you have two options:
1) Install a 32 bit JRE. You can have both a 32 bit JRE and a 64 bit JDK at the same time, so no need to reinstall anything.
2) Install a 64 bit Eclipse.