2016-03-30_01-05-09eurjpy

Hello Traders,

Another chart, this time let us concentrate on the eurjpy daily chart.

Price is at resistance today as can be seen with number nine.

We have been given so far price action of lower lows and lower highs.

If the level of 127.000 to 128.000 holds price down and a nice bearish reversal candlestick is provided then a short trade is suggested.

If the mentioned resistance area is broken then this bearish trade idea loses its validity.

Since the 55 MA is in control a target can be stipulated at number 8 aiming for a double bottom.

BEST OF PIPS

One thought on “EURJPY Daily Chart Analysis”

  1. Tyler Lund says:

    Nice analysis Nuno…

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