EUR/JPY is Setting up for a Rally Now - Technical Analysis and Trading Recommendation
Technical Outlook and Chart Setups:
Lets examine the Daiy Chart Wave Count as depicted above. The rally from 97.00 to 111.00 was in 5 waves. The pullback or retracement from 111.00 10 100.20 levels is in 3 waves. We can possibly expect a 5 Wave rally now towards atleast 117.00 levels, provided that Fridays' lows should hold prices up. One should enter buying at these prices, with a strict stop loss entry.
Buy now, around 101.20/30 levels, Stop at 100.00, Targetting 117.00.
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