Here is EURJPY H4 chart.   It looks like the pull back is over, and just has started to move up north.   The reversal point was Role-Reversal area and  FIb50% level.  Also Stochastic is ready to go north with lots of space above!

 

2015-08-19_14-09-19-EJ1

 

Is it too late?  I know think so.  We still have plenty of time to enjoy this up move.   However, please do not just chase the price.

 

2015-08-19_14-10-17-EJ3

Here is M15 chart, which just made Higher-High, and Higher-Low.  As long as this pair keeps showing the series of HH-HL, we can simply buy from HL.

Once you move your stop to even, may be interesting to just let it go, and see if the price reaches to 140.00, which is the predicted target according to Fibonacci Theory. (Fib 50.0% -> Fib138.2%.    Also WM2 -> WM4)

This trade may be easier than GBPJPY trade, actually.

I think I will stick to this pair today, as H4 chart is a textbook pattern.

 

Happy Tradin’

 

YJ Baik – Forex.Today @ Tokyo

 

 

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