EURJPY ~500 PIP BUY

Long term directional bias is bearish. On the daily, price rejected the CTL. Price retraced to the 78.6% level. Long term I anticipate price to push to 129.884, -.27 D extension. Before this happens there are key levels of resistance that must be broken through. Placing buy limit at 121.116. Resistance level at 122.20. Placing buy limit at 121.116. Currently at the 50% monthly retracement level. If I get bullish confirmation, I will ride the trade to 125.508. Currently at the 50% monthly retracement level.

Kommentar:

Missed the buy limit in, entered manually at 121.36.

Kommentar:

Tp'ed at the D extension 123.15. Looking for a retracement to happen and a continuation to the upside. Placing limits at 121.70, 61.8% retracement level, and 122, 50% retracement level.