A few weeks ago I updated EURJPY for the last time, it looks tempting to start looking for buy's but the reason why I wasn't posting is the fact that I miss a few variables that should indicate that the Impulse towards 150 is about to start. It still can turn bullish off course however I favor my long term analyses for now until proven otherwise. My targets are 120, 117 and maybe even 112.
Updates will follow
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www.youtube.com/watch?v=HvmWTm4f...
Updates will follow
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
Comment:
Although the EURJPY moved higher in a steep angle the inner structure of this bullish move is still corrective. We need a leg higher to make this move a potential leading diagonal for more bullish price action to be next. If it breaks bearish however and consolidates (failed retest of the high) I will be selling this pair. The yellow box is the same as in the post above (only extended the box to the right)
Comment:
We saw the leg lower after my last update and because I see the previous leg as corrective I believe we are in an ABC consolidation with wave C about to start to test 123.2. Short term I will be looking to buy wave C higher. If it moves lower I let this pair go for now. Bigger picture is still the same.
