Greetings.
Let’s take a look at one of our favorite pairs to trade – the EUR/JPY at a LONG term view.
Looking at the daily chart (long term), it looks like the August 24 low is holding up as a potential turning point.
The long term direction appears to be bullish and
It is still early to “commit” to a wave count, however, in the shorter term, we may see a move down to the 112.000 area and below, and then turn back up to hit the 140.000+.
Again, this is not a short term view – but a long term view of this currency pair.
Remember to always utilize your money management – the name of the game is capital preservation.
Good luck and happy trading.
