On
EURJPY
, the price dropped on 1H bars and it is time for correction. So question is when the correction finishes and starts a new impulsive leg. Following these analyse the Red box is considered the good reversal zone.
1. There was a support at 126.65, which became a resistance after the breakout. The price respects that level.
2. Fibonnaci retracement 38.2% exact level.
3. Trendline (blue line) acts as dynamic resitance.
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Trading Books Online - www.trading-library.com
Top 10 Forex Brokers List - www.best10forex.com
EURJPY
, the price dropped on 1H bars and it is time for correction. So question is when the correction finishes and starts a new impulsive leg. Following these analyse the Red box is considered the good reversal zone. 1. There was a support at 126.65, which became a resistance after the breakout. The price respects that level.
2. Fibonnaci retracement 38.2% exact level.
3. Trendline (blue line) acts as dynamic resitance.
-----------------------------------------------------------------------------------------------------------------------------------------------------
Trading Books Online - www.trading-library.com
Top 10 Forex Brokers List - www.best10forex.com
