![EURJPY Price Action Analysis - 50.0% Fibo at 133.56 to break for correction EURJPY Price Action Analysis - 50.0% Fibo at 133.56 to break for correction](https://c.mql5.com/6/672/splash-643782-1436445873.png)
EURJPY Price Action Analysis - 50.0% Fibo at 133.56 to break for correction
![Sergey Golubev Sergey Golubev](https://c.mql5.com/avatar/2012/12/50D09349-3D90.jpg)
W1 price is located above 200 period SMA
for the primary bullish and below 100 period SMA for the secondary ranging market condition between 141.05 resistance level and 126.09 support level:
- the price is on bullish ranging between key levels;
- price crossed 38.2% Fibo at 135.35 fron above to below and it is trying to break 50.0% Fibo at 133.56 for the correction to be started;
- If weekly price will break 50.0% Fibo at 133.56 on close weekly bar so the secondary correction will be started within the primary bullish market condition with 61.8% Fibo at 131.77 as a next target, otherwise the price will be ranging within the familiar levels.
Trend:
- D1 - ranging bearish
- W1 - ranging bullish
- MN1 - ranging bullish