Higher uniformity (and the resultant higher visibility of this chart pattern) is also helped by the fact that the two corrections of this chart pattern (from C to A and from D to B) are also clear-cut ABC corrections to the previous downward impulses. The top of this chart pattern (point A) formed close to the previous high at the resistance level 117.50, while the bottom (point D) was set near the support at the round price level 110.00.
The price has recently reversed sharply (at point B) from the combined resistance made out of the aforementioned previous strong support at 114.00 (now acting as resistance after it has been broken by the first downward impulse of this chart pattern - from A to D) and the 50% Fibonacci Retracement of the A to D impulse (as is shown on the second chart below) and is expected to fall further. The pair is currently trading close to the previous low at 110.00, which should be broken for the pair to continue falling. The following daily EUR/JPY chart demonstrates aforementioned technical price levels:
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