2015-07-22_03-37-15eurjpy

Nearly the same chart as the EURUSD 1 hour chart.

This has the purpose to show that charts move the same way especially if they are sister pairs that also include the euro.

This reversal on this was shown with a 123 pattern. Support held nicely and the price took off.

Also on this chart traders targeted the fib level of 38.2% of the previous bearish move and price moved quite fast to get there.

At the fib level the bulls took profit and the bears with a fundamental bearish bias thought it wise to enter a short position.

The asean sesson is taking price firmly down again.

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