Possibly a cup and handle pattern transitioning the handle segment currently. This is on the monthly. 50 EMA and Fib overlay. I'm fairly new to this so don't hate. EUR/JPY
Eur/Jpy getting ready for a down move, if price gives another jiggle that's good.
sell @ 116.70 for 1.1620; stop @ 117.70 To see more ideas, check my blog Or follow on Twitter
sell @ 114.23 for 1.1373; stop @ 115.23 To see more ideas, check my blog Or follow on Twitter
Above shows an overview of the previous 3 years of the EUR/JPY. Above i have highlighted what i believe are a few key support levels in watching the meltdown of the EUR/JPY. The market has been consistently bearish for the past 12 months, and after the break of 120.00 we have seen a further decline to around 119.00. I believe once we see a break of the previous...
I see we can go as low as 119.400 (stoploss) before returning up. But then we go back to 124.400 (take profit 1) or even 127.800 (take profit 2)
EUR/JPY is now at 3 year lows since falling below the support level of 2016 lows. Expecting this pair to continue trending downwards to around 120.00 mark, previous support level below this point were around 119.50.
EUR/JPY is in a downward parallel trend. After a recent bounce of this parallel trend line it has retraced 61% and held strong. My target for this pair would be 12039.1
looking for that new lower low I'm short on this.