EURJPY

17 thg 2, 2014

on monthly - weekly and daily time frame , the trend is obviously UP , on 4h we find the UP channel support trying to hold the price by forming the first impulsive wave with a second for correction and the third wave breakout the resistance of the DOWN channel , and as you can see the price return to retest the old resistance and still trading inside symmetric triangle and forming the fourth wave and we can consider this like a complex corrective wave cause the first corrective wave (wave number 2) was simple , so i forecast that the price will complete its last and third impulsive wave (wave 5 ) and to be safe we should waiting till the breaking out the triangle resistance

NOTE : every BUY order is safe than SELL cause the main trend is UP :)