TheBanker

what's most important

FX:EURJPY   Euro / Japanese Yen
EURJPY found support last year at the lower bound of a multi year channel (109.50) and a swift recovery has taken shape since then. It headed towards an intermittent hurdle near 124 the 76.4% retracement from march2016.

Currently the pair is retesting the channel limit at 11.70 in what appears to be the fourth wave from an elliot perspective. With the daily indicators closing in on support 119.70 should contain nearterm downside.

A break above will take it towards 122.50/123 with the next handle at the recent high of 124.

Mar 10
Comment: shorts at 126, want to get the cheapest tickets
It's very scary to long the Euro right now, there are lot of troubles boiling beneath the surface.
Reply
@Gino, yes you are quite right about the decline in euro this is only a short term position playing the jpy weakness
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out