As I posted yesterday, I became Bull with EURJPY pair since the daily candle on Daily Ichimoku stayed above the Clouds. (See Below)

2015-08-12_11-18-38-EJ1

 

 

So let’s consider the buy zones.

 

 

BUY ZONE 1) … for scalpers.     138.23-138.31 zone

This may be too late by the time you read this post.  But anyhow… here we go.

2015-08-12_11-25-33-EJ2

Fibonacci 38.2%-61.8% of the recent rise.  Also note Role-Reversal is at 138.30 ish.

The target should be Fib138.2% (138.57 ish)

 

 

BUY ZONE 2) … Day Traders.     138.00 ish zone

2015-08-12_11-30-38-EJ4

Buy from Hourly 21EMA.

 

 

BUY ZONE 3) … Day Traders.     137.40-137.80 zone

2015-08-12_11-25-33-EJ9

Take the Fibonacci of Yesterday’s Low and High, and try to buy from somewhere between Fib38.2%-61.8%.   Again, the target should be Fib 138.2% (139.00 ish)

 

BUY ZONE 4) … Swing Trade.     137.00 zone

2015-08-12_12-02-25-EJ99

Role Reversal area – previous resistance now becomes Support. This is the last resort to be a bull.   If this support doesn’t hold, I will no longer be a bull.

 

As usual, please check for the price action on smaller time frame, before you get into the trades.

 

 

Happy Tradin’

 

 

YJ Baik – Forex.Today @ Tokyo

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