Support and resistance levels with the projection of an ABCD pattern suggests lower prices. After 11th of March we should see some action at least to the downside targets.
Around 9th of February a nice point for selling may occur. Must be confirmed with reversal bars. If that happens to be the case, ABCD pattern will take eurjpy south untill end of March for a pause.
We are at an important retracement level of the last swing up. (%61.8) Last 2 daily bars are suggesting that price does not want to get lower. A breakout to the upside from today's high can push the price north in a hurry. Still I'm waiting this to be a consolidation swing and there is no need to play risky.
There may be 1-2 week of strong rally but the pattern is coming to an end, and there may be corrections to the lowerside of the ellipses
With the break of the trend line, red lines are targets untill May. This bottom will be an important one for many years to come.
5 wave counted on chart, waiting for confirmation to downside
The pattern may be elongated dowwnside since it is a prominent trough, but it looks bullish in the next 2 months time. Original Price Target may not be reached. The red horizontal lines are important targets
MaCD gave the signal Plan is on the chart, position should be moved to break even between 1.414 and 1.618 fib wedge area
Plan is on the chart.Red lines are target levels. Good luck.
The pattern includes both bullish and bearish bias. The key level is 1.1068 to watch eurusd should be above that level to continue bullish
Targets on the chart If euro manages to consolidate above 1.0850 then up targets are 1.0880 and 1.0925 But I think first downside target will be met on Monday session
Sometimes it's worth being simple. Short with the break of the arc.
2 possible ways to go , one is inside the ellipse, the other is a bullish gartley