The EUR/JPY
on the daily chart is showing us a possible double bottom formation around the
114.00 zone. From this area the pair may try to bounce to the upside, but the
115.00 level or the 116.00 level could act as resistance. The 55 day
exponential moving average is at the 115.00 level, but the pair has not
respected that zone in the past; therefore, this time the price may as well
break above it. The real break out should be above the 116.00 level or below
the 114.00 level. Below the 114.00 level, the 113, the 111, or the 109.37
levels may act as supports.
Well spotted! I'll keep it in mind.
ReplyDeleteVery accurate analysis, thank you!
ReplyDeleteIt seems to have found some support!
ReplyDeleteVery helpful tip.
ReplyDeleteExcellent analysis!
ReplyDeleteThanks for sharing your point of view.
ReplyDeleteGood post, thank you for sharing!
ReplyDeleteVery useful article.
ReplyDeleteThanks for such an informative article.
ReplyDelete