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Tuesday, 25 September 2012

EUR/JPY H4 Update

EUR/JPY H4: Weekly Pivot - Rejected. Weekly Support 1 - Rejected. No price hit the Fibo Price Cluster and 38% of whole wave 3 retracment. This might be wave 4 bottom. If it is then it is rather very bullish due to the fact 38% is fairly shallow retracment. But I wonder if wave Y of WXY structure will develop into full blown ipulsive wave and penetrate previous wave 4 teritory and 50% retracment level.

Seb


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