EUR/JPY WEEKLY A,B,C,D Formation to 153.00 Long

Euro Fx/Japanese YenFXCM

Description

⋅ Dec 17, 2014 9:36 PM

Have been monitoring EUR/JPY on all timeframes for a substantial amount of time

Higher high + higher low P.A formation carried out in the weekly uptrend..
Fib A,B,C formation in play with D extension (153.00) yet to be achieved.

Scale to the H4+ H1 Tf in order to execute a long trade upon a Counter trend line break in line with the overall long bias.

eur_jpy astrofx

Comments

Bananenboom20

⋅ Dec 18, 2014 3:49 PM

EUR/JPY is simply going up just like the other pairs against JPY due to devaluation of the Yen. The central banks keep it low for export reasons and other fundamentals.
so i have to agree with AstroForex in this.

OzkOzn

⋅ Dec 18, 2014 10:13 PM

We dont have to agree with each other, it is not a problem. Maybe i could not properly explain my view.
I dont mean Yen's VALUE, it is a different subject and it changes by the point of view.
I want to emphasize the way eur/jpy' PRICE is calculated.
Thanks.

EzraCapital

⋅ Dec 18, 2014 10:54 AM

thats not entirely true.

OzkOzn

⋅ Dec 18, 2014 8:39 AM

you know very well, eur/jpy's situation is determined by eur/usd and usd/jpy
eur/jpy = eur/usd * usd/jpy
what is your thought on usd/jpy? Does it support your idea?