TradingView
Mizuki32
May 10, 2016 5:39 PM

EURJPY: Possible bottom and resumption of uptrend Long

Euro Fx/Japanese YenFXCM

Description

Analysis:
1) {a}-{b}-{c}: {impulse}-{combination}-{?}
2) (w)-(x)-(y): (expanded flat)-(combination)-(?)
3) Price hit Fib 1.382 extension: (x)=1.382(w)
4) RSI divergence

Profit target:
*) Fib retracement: {b}=0.382{a}
*) Fib extension: (y)=(w)
From Fibonacci clustering technique, 135.6 might be appropriate target.

Trade active

Long position opened at 122.5

Trade closed: stop reached

Comments
Mizuki32
Thanks comment.
Totally agree.
aibek
Nice chart! Looks like GBP; CAD; EUR are going to take on yen.
More