OANDA:EURJPY   Euro / Japanese Yen
30pts up today just isn't enough to reverse the Long Bear for this pair.

4hr Fib study Golden ratio is not that far away. Also a simple parallel channel puts this right into the .786 (115.072) to .618 (117.001) zone which should be expected considering recent efforts made by the market to get down into this trading range.

There is actually a possibility we could see $99 zone in 2018 but for now downward momentum remains strong in the 115-117 trading range before any possible run upward.

Trade active: looking at possible market formation - M @ 117.85 verify the Bull continuation
1st stop target is 117.01

Trade active: going to keep an intraday target of 117.67
no need to get greedy

Trade closed: target reached: Hope you made some pips on the way down - Our target has been reached 117.01 and this study is closed. Time will tell if the market makers wish to run this into a strong Bull or keep price in a relatively large 786-618 trading range.

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