EUR/JPY Analysis - Monday 14 December 2009

It's been a while since I wrote and/or commented on an analysis piece. So, here I've used RTFX's excellent RF Tradertip Nostromo for EUR/JPY this coming Monday, 14 December 2009.

Interestingly enough the daily, weekly and monthly scenarios are in sync (and this is not necessarily always the case). Having failed to climb towards WPP (132.46) on Friday, we're now expecting a flat correction down to 128.72-129.49. After this fall, a recovery is expected.


Looking at the EJ H1 chart, I am in agreement with the analysis. I've also re-introduced our old friend, the Volatility Pivot indicator, which rather interestingly is at 129.58, a mere 9 pips above the highest flat correction level.

Going into the week, I'm perfectly squared and looking for optimal trade entries near pivots as always.

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