240 930am

Consolidation continues.  Strength also continues and at this point a continuation of the larger trend is expected once the consolidation has ended.

Pull back to green channel s/r, then the 34ma, as well as the blue and purple Fib retracements are possible - watching for break of current lows in consolidation.

eurjpy-240-20161206-930am

DAILY

Red bar is expected with a potential to pull back to 1/2 of yesterdays bar. Outside of green channel indicating continued strength, indicators although weakening continue to show positive strength.

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WEEKLY

At the red s/r zone and watching for it to be cleared - pink UBB next in line for upper target. Also note the red Fib extensions added today - potential target considerations.

Strength continues.  Potential for pull back to ma's - unlikely until weakness comes back in to the market.

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