Day trade
Trade view / 23 September 2016 at 6:12 GMT

EURJPY rally signalled as corrective

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: EURJPY
Price target:
Market price:

Our signals have been bearish on the week and Wednesday's bounce has attracted sellers at the 13 and 50-day average rates. Another bounce yesterday is also signalled to be temporary and we are looking to take advantage of this, or if not and the market falters we will also sell through support.

Management and risk description

We are staying square on the open, but looking to sell into strength or down through support. If either trade is executed the stop can be lowered to entry once the first target is met.


Entry: sell at 113.90, a 78% recovery to the losses since Wednesday's high or sell at 112.60, Thursday's Marabuzo line.

Stop: the stop on the sell rally is at 114.41, Wednesday's high and the sell through support at 113.10.

Target: 112.08, this week's low and 111.25.

Time horizon: today only.


EURJPY 4 hourly - recovery to losses

EURJPY Weekly - volatile losses

EURJPY Quarterly - pullback to gains
 Source: All charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more
Paul Sumner Paul Sumner
Hi Steve, is 113.90 the correct entry or should that be 113.60?
Steve Lucas Steve Lucas
113.90 is the fibbo not sure what 113.60 is but im using 113.90 cheers
AlexF AlexF
Short GBPUSD was the trade of the day
Steve Lucas Steve Lucas
sure was - my partner alan collins covers stg - think he used eurgbp which was close 2nd


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail