EUR/JPY BIAS
SO AFTER THE REFERENDUM WE WILL BE ABLE TO WATCH THE EURO PAIRS FOR SOME SETUPS.
THE CURRENT SITUATION WITH EUR/JPY IS A SIMPLE ON IN MY EYES. THE WEEKLY TF IS TELLING ME WE ARE BEARISH AFTER A NEW LOWER LOW AND THIS FIB RETRACEMENT TO 61.8 COULD BE THE NEW LOWER HIGH BEFORE A BIG CRASH DOWN. WE HAVE HAD A TRENDLINE BREAK AND SUPPORT BROKEN ALONG WITH OUR MA'S CROSSING TO THE DOWNSIDE TO SIGNAL SHORT. I WILL NOW BE WATCHING P.A FOR SHORT SETUPS WITH TARGETS AT 131.20 FOLLOWED BY 127. LONG TERM IS THIS BEARISH MOVEMENT HOLDS WE COULD SEE AS LOW AS 120.
ALTERNATIVE PLAY, IF PRICE DRIVES UP AND BREAKS 141 AND THE 61.8 FIB I WILL SEE THAT AS PAST ANY REAL PULL BACK POINT AND THEN BE LOOKING FOR LONGS UP TO 149
THE CURRENT SITUATION WITH EUR/JPY IS A SIMPLE ON IN MY EYES. THE WEEKLY TF IS TELLING ME WE ARE BEARISH AFTER A NEW LOWER LOW AND THIS FIB RETRACEMENT TO 61.8 COULD BE THE NEW LOWER HIGH BEFORE A BIG CRASH DOWN. WE HAVE HAD A TRENDLINE BREAK AND SUPPORT BROKEN ALONG WITH OUR MA'S CROSSING TO THE DOWNSIDE TO SIGNAL SHORT. I WILL NOW BE WATCHING P.A FOR SHORT SETUPS WITH TARGETS AT 131.20 FOLLOWED BY 127. LONG TERM IS THIS BEARISH MOVEMENT HOLDS WE COULD SEE AS LOW AS 120.
ALTERNATIVE PLAY, IF PRICE DRIVES UP AND BREAKS 141 AND THE 61.8 FIB I WILL SEE THAT AS PAST ANY REAL PULL BACK POINT AND THEN BE LOOKING FOR LONGS UP TO 149
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