Hi all, i'm sure a lot of you are looking at EUR/JPY so i thought i'd post my GMT charts for your reference and my KISS analysis.
Weekly has a nice shooting star which failed to close above the 131 level (major PPZ on my weekly chart).
Daily has an almost DBHLCor BEOB (Thursday's high - 133.91, Friday's high - 133.85). Is this train turning round to come back?
We may just see a retracement to 128 support level which is also around a 50% FIB and in the same area as the DAILY 20EMA where it could pick up some passengers on cheap fares before continuing on it's journey north.
However, if price can fall through 128 and close below, then it could have a way to fall down to 124.
Will be sitting on my hands to see what happens at 128.
Will look at other pairs later today. EUR/USD seems to have closed at very interesting PPZ in particular but i haven't been looking at this pair much lately so would like to hear others opinions on that.
Keep on,
Dan
Weekly has a nice shooting star which failed to close above the 131 level (major PPZ on my weekly chart).
Daily has an almost DBHLCor BEOB (Thursday's high - 133.91, Friday's high - 133.85). Is this train turning round to come back?
We may just see a retracement to 128 support level which is also around a 50% FIB and in the same area as the DAILY 20EMA where it could pick up some passengers on cheap fares before continuing on it's journey north.
However, if price can fall through 128 and close below, then it could have a way to fall down to 124.
Will be sitting on my hands to see what happens at 128.
Will look at other pairs later today. EUR/USD seems to have closed at very interesting PPZ in particular but i haven't been looking at this pair much lately so would like to hear others opinions on that.
Keep on,
Dan
1