USDJPY consolidates after sharp fall that ended s/t congestive phase

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro hold strong bullish tone, following yesterday’s strong acceleration higher that peaked ticks under 1.15 barrier. Former tops at 1.1458/65 were taken out and market closed above them. Also, Fibonacci 61.8% of 1.1712/1.1086 at 1.1473 was cracked. Daily close above here is required to signal fresh upside towards 1.1565/95, Fibonacci barriers of 76.4% retracement and 138.2% projection of the upleg from 1.1103. Corrective actions on overbought near-term studies should be ideally

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