Possible Long on EJ

FX:EURJPY   Euro Fx/Japanese Yen
We've seen a bulling break above the CTL on the daily on this pair and if we drop down to the 4H TF we see a break and multiple retest of this line. I believe we will see a move up to test the previous highs and if the bulls have enough power perhaps even the 0.618 mark.

As I've recently taken an interest in Harmonic Patterns I believe that this pair also shows promise of completing a possible Crab Pattern which also aligns up with the 0.886 retracement .

I've had a look at I do think the bears will return but for now the bulls should have the edge.

Let's see how this pans out! Would love any feedback ;)

Happy trading folks - G5B_FX
2 years ago
Looks like this worked out perfectly guys!! I'm not sure about the drop all the way down to 127 range but we should see at least 38.2 to 50 fub retracement of leg CD (hopeful for 61.8).

Let's see how this plays out!

Happy trading folks - G5B_FX
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