EURJPY - weekend summary

Thank you for the birthdy wishes and a great weekend was had around the Clifton area of Bristol. But always glad to be back to the charts. I think this pair may turn out to be my solitary trading pair going forward. I quite like the 24hr trading availability that this pair offers and seems to behave fairly, in my opinion.

 Not a lot to add to last week's commentary on this time frame. Price continues to meander around the 50% Harmonic Octave of the 'all-time high low' refection square, with the weekly momentum cluster ready to confirm in either direction. The EW count can change at any point, but for now, I think we are in 'b' of 'c' of 'b' before 'c' down in wave 4. No matter really, as I trade the intraday wave regardless.

 The 200 day Hull MA is turning down and price is currently under the 25 day FLD (pink). It is also under the 45 degree line (or at it, at least) in the bearish zone of the annual Gann reflection, but still holding above that 'all-time' Harmonic at 129.4042 and above the floor of the current square. It is a bit of a mixed bunch without some committed move either way. However, that 100 day low is still beckoning and any sharp moves up should be pulled back down pretty quickly in due course. For now however, the daily momentum cluster does not look bearish to me and I will follow this up in the interim, if that is where it is going.

Okay, so I left this monthly square chart over the weekend without comment. I have overlaid the closest 'annual' and 'all-time' harmonic lines in blue and light gold for reference. The darker gold and green dashed lines are Pyrapoint calcs based on last month's high and this month's new low (as it has  taken out last month's low already). Price does seem to be honouring the green dashed ladder at the moment. The 25 day and 12.5 day trend lines remain bullish and price has pushed through the 12.5day FLD (orange) but remains inside the 25day as per the last chart. So, some bullish action has been going on during this consolidation phase, but that 129.4042 'all-time' harmonic octave and the trough of the 12.5day FLD may pull down on price early week, However, the momentum cluster does look bullish to me and I think we will see price either 'cut' the pink 25day FLD above or if this entangled price action continues, then a push up into the 25day FLD near the 130.948 annual harmonic octave might be all we get. All in all, if there is no punishing move down hill, I am expecting that direction early week to be preparation for a spike high, before coming down into the pink trough building on the right hand side of the chart later in the week. We shall see, as ever.