FX:EURJPY   Euro / Japanese Yen
EURJPY             has been fairly predictable thus far but its latest down move has thrown two possible moves into play.

Refer to my EURJPY             short @ ~134.500 to see what I mean.

The down move isn't as strong as I'd like it to be. So I believe there could be a final reversal back up to ~134.900 which would complete a Gartley . Of course, it is a bit early to suggest that this will occur.

The Gartley is a . 618 retracement followed by a . 786 retracement . There is then a push to the 1.27 extension of the major trend (trend within a trend).

If price rallies to the ~134.900 area, consider a short from the supply zone indicated (red dashed lines).

A 20-pip risk is probably wise here. The reward is a profit target of 133.000 for 190 pips. You may have to hold the trade for a while but it could be worth it.

This is obviously just a possibility. The original EURJPY             analysis is still in play right now from ~134.500.

The demand zone @ ~134.040 has been penetrated already so it is more like that it'll be broken soon.

If the Gartley does form, it provides a third chance for traders to get in on the down trend if they missed the original drop out of the triangle or the test of the resistance area .

EURJPY             looks headed to 130.000 again but it is taking its sweet time. Stay tuned.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out