EURJPY channel rejection

3 december 2015

elliotwave channel rejection

my forex analysis on eurjpy shows that, the price are rejecting to break the lower channel trendline.

my wave count shows that the impulsive wave are ended at the lower channel trendline.

the candlestick indicates that the trend reversal on the lower channel trendline and end of impulsive wave. 

my target profit will be on the area of 133.14 which is the resistance level of the previous reversal.while stop loss can be on few pips from the previous low which is 129.10.

i made this analysis on daily time frame.maybe it can be a clue for you to swing.

good luck!!happy forex trading!!

this forex trading idea was published for the purpose of study only. all the risk taking are at your own responsibility.


A forex trader who enjoy doing forex naked chart and make profit with forex expert advisor.Also enjoy to socialize with other forex trader in the world.