Fx-AlphaStrats
Long

EURJPY weekly forecast

FX:EURJPY   Euro / Japanese Yen
Entry: 129.469 if that level is not broken.
SL: Just below the price that is marked with the circle

Short entry: if the 129.469 level is broken. With tight stop loss!
Better entry is at 132.000
SL will be just above the entry price between 50 and 100 pips SL

Description:

The pair are still in a wave sequence, and wave ((v)) haven’t been hit. And it looks like we are in a retracement wave of A,B,C before further upside.
We also have a bullish divergence and can be a part of the confirmation for the upside, until wave ((v))
if 127.479 breaks, we could se the price slide further to 123.480, which is the next support in price. And also 0.618 on Fibonacci drawn from wave (( iii )) to ((ii))
and the support of the trend channel
The previously uploaded chart with, harmonic pattern are still in count.
This week will also contribute with middle importance economical numbers.


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