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EURJPY Trade Setup (Dec 14)

Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-14_20-04-22-EJ1

I continue to be Bear with EURJPY pair.

The biggest reason is Weekly & Daily Ichimoku chart.  (Please refer to my postings last week)

Daily Stochastic suggests the price will go down further.

2015-12-14_20-04-22-EJ1

Thus let’s look for another sell zone.

Looking at H4 chart below, you can see the price dropped again from Fib61.8%.

2015-12-14_20-09-23-EJ2

One concern though, is the fact that the current level could be Buy zone.  So if you are Bull, you should consider to buy.

However, I am a Bear.  So I will only look for Short opportunity.

2015-12-14_20-11-05-EJ3

For Sell zones, I am thinking the following 2 zones.

  1. If the price comes up to 133.20ish, then that will be Fib61.8% as well as DPP and WPP.  This would be an ideal sell zone
  2. If the price simply drops from the current price and breaks today’s low (132.50), then I would like to sell from the retest.

2015-12-14_20-12-41-EJ4

 

As a target, I will look for Double Bottom on H4 chart.  Thus the target should be 130.00.

 

 

Hope this helps you build your own setup.

 

YJ Baik – Forex.Today

 

2 comments on “EURJPY Trade Setup (Dec 14)”

  1. Profile photo of Joao  Pascoal
        December 14, 2015

    Hi YJ Look like is good set up I am still wait for the price action
    Thanks
    best of luck

    1. Profile photo of YJ Baik - Forex.Today
          December 16, 2015

      Thank you, Joao!

      -YJ

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