I reckon that an almost seven yen top to bottom move fits the bill…and for anyone who got it my sincere congratulations.
Here’s the daily chart showing the Fib levels from mid November 2012 to yesterday’s high; looks to me that we could, with further euro down pressure test the 0.382 at 117.20-25.
Personally I would think that is an attractive risk reward trade to buy approaching there with a stop below 117.00; a break will look for 114 to be tested and my view that the trend will resume tells me it looks a fair opportunity.
After the mayhem we have to expect a confused and concerned market and hence a consolidation maybe for a few sessions.
Daily EURJPY
