FX:EURJPY   Euro / Japanese Yen
127 0 0

In London right now and just had my porridge and what do you know I spot a bullish flag . These are very common when using ABCD Fibonacci extensions.

This technical analysis concurs with my previous eurjpy             analysis tagged below and shows a higher target than I previously anticipated. This geometrical formation has given me more confidence in hitting my TP2.

The flag pole begins at the low of 16th Oct (134.13) which is also the beginning of my ABCD Fibonacci extension . It then extends to 2014 yearly high (149.60). The flag itself is outlined by the 2 thin black trend lines . If you scope into the 240min chart you can clearly see a breakout. However there is still a possibility this pair may head lower to the blue 38.2% retracement of A-B (143.23). If this does occur then a bullish flag pattern can still be valid.

I have displayed the distance of the flag pole from the low of the flag itself (146.70) which is also the C reference to the ABCD Fibonacci extension . As you can see the price distance hits the 100% ABCD Fibonacci extension to the T. This is also a very strong SUPPLY ZONE that I mapped out already from previous analysis. Coincidence or just plain wizardly? Technical analysis tells a story and sometimes if your smart you can skip a few chapters!

If I am correct then we are looking at a 1300pip move to the upside. Thats a very big move!

Happy Holidays :)


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 Signal Finder Cryptocurrency Signal Finder 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