Eur/Jpy possible buy setup

17 mar 2018

All then yen pairs turned from buys into nice sell setups this past week. I held this EJ buy for a while and finally closed my last position wed or thurs. I do see it as being in a downtrend, but I am looking at this as a wave 2 retracement and if that is the case I would expect more up. It had some tight candlestick action as it worked down and closed the week at a pitchfork. I pointed out a possible buy setup coming on EG but we need confirmation on these. No reason they can't keep extending down, but I would not be surprised to see one more up, but that is merely speculation and you need price action to confirm. The way those candlesticks are looking to me on 1-4hr makes me think we may get one more up on EJ