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olly48

EUR/JPY to find support from current level

Euro / Japanese Yen (FOREXCOM:EURJPY)  
olly48 Updated   
FOREXCOM:EURJPY   Euro / Japanese Yen
Trend Analysis Chart Patterns EURJPY eurjpyshort eurjpylong eurjpytrade EUR jpy
3
5
trendanalysis chartpattern eurjpy eurjpyshort eurjpylong eurjpytrade eur jpy
This has broken the channel and reached the support level. I expect this to correct before making another attempt at breaking the support level at 125.80. Take profit is at -0.272 Fib.
Comment:
This has absolutely melted downwards and has hit the TP but there was no resistance at the support level for a retrace. I would expect this to correct back to the previous support from here an find resistance to continue downwards. A good entry will be 125.7 with TP at 124.766
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