A very clear inversed head & shoulders with a nice retest of the resistance wich became suport and then a confirmation of the pattern on EURJPY leaded the price to the top and now the retrace is bouncing between 23.60 and 38.8 ( fib levels)
What i expect is a retrace near 61.8 if the 38.2 is broken. But a buy scenario is also a way to see it. If it rejects from one of this levels, the price might create new higher highs.
This pair is one of my favourite because it always confirm the basic patterns and it also has a decent volatility.
But the main thing here is that you are on the money side so if you find this analysis useful, please support me with your likes and comments.
If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
"To prosper" means to succeed, to thrive, to turn out well. In other words, when you are prospering, you are expanding, growing spiritually, mentally, financially, socially and intellectually. In order to truly prosper, it is necessary that you become a channel through which the Life-Principle flows freely, harmoniously, joyously and lovingly. I suggest that you establish a definite method of working and thinking and that you practice it regularly and systematically every day and this would improve your trading a lot!
What i expect is a retrace near 61.8 if the 38.2 is broken. But a buy scenario is also a way to see it. If it rejects from one of this levels, the price might create new higher highs.
This pair is one of my favourite because it always confirm the basic patterns and it also has a decent volatility.
But the main thing here is that you are on the money side so if you find this analysis useful, please support me with your likes and comments.
If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
"To prosper" means to succeed, to thrive, to turn out well. In other words, when you are prospering, you are expanding, growing spiritually, mentally, financially, socially and intellectually. In order to truly prosper, it is necessary that you become a channel through which the Life-Principle flows freely, harmoniously, joyously and lovingly. I suggest that you establish a definite method of working and thinking and that you practice it regularly and systematically every day and this would improve your trading a lot!
Comment:
Target reached 50% fib level and rejected to the suport line. If you are conservative you can close in profit or wait to reach 61.8. Ending the week in the win mode.
Comment:
Closed in profit!