EUR / JPY: Fibonacci Analysis
Probably continued downward correction.
On the four-hour chart the price has fallen below
mark of 138.00 (23.6% correction) and tested the arc of 23.6% for the short-term
trend. Her breakout prospect will further reduce to 137.44 marks
(Correction 38.2%) and 136.80 (50.0% correction). In the case of reverse breakdown price
138.00 mark may continue to grow to levels 138.40 and 138.92 (correction
0.0%). On the daily chart the pair is trading near the intersection of correction 23.6%
(137.33) with the arc of 50.0%. Price attempts to growth, which aims
seen the level 138.90. The breakdown of the cost of a top-down level of 137.33 may lead to
135.32 decrease to a level (correction of 38.2%).
trading recommendations
It is recommended to sell the pair on the level of 137.75 with
purposes 137.44, 136.98 and stop loss at around 138.00.
alternative scenario
Buy the pair is worth 138.00 after the breakdown level with
138.40 and 138.90 targets and stop-loss at the level of 137.80.
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