Prabhu.Ram
Long

Top 5 of the day 3) EUR/JPY

FX:EURJPY   Euro / Japanese Yen
17 0 0
Hello traders!

I will be introducing a new system of trading on this page from now on.
I will be proving the 5 most tradable pairs for the day everyday with some proprietary indicators' results.
Third pair for today is EUR/JPY             .

* Description and meaning of all my indicator numbers are given below.

EUR strength consistency 0.8956
JPY strength consistency 1.4417

Expected daily target
1 139.04
2 139.36
3 139.68
Switching point 138.6390
Invalidation Point 138.12
Avg             Volatility 128
Volume % 37%

The situation with this pair is similar to that of EUR/USD             . The pair could well go back into the middle of the broken rectangular pattern since the down force has not been strong enough after breaking the pattern from the downside.
The 3rd target of my system is coinciding with the fib . 618 retracement level which adds reasons for this long position.

*Strength consistency is a calculated value of strength for each currency. Closer the number to 0, stronger the currency.
Avg             . volatility : It is the estimated high to low ratio of a currency pair calculated over some specific number of days for each currency pair.
Volume % : It is the % movement of the pair on the current day with reference to the Avg             . Volatility .
Expected target is calculated based on the Avg             volatility and currency volume %.
Switching point is the suggested entry price for optimum coverage
Invalidation point is the suggested S/L
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