EUR/JPY
recently bounced off for a second time from 129.60 but that did not lead to a
significant move to the upside as the pair rallied to 131.70 and bounced off
from that resistance too, forming a shooting star candlestick on the four-hour
time-frame below the (MA)89 indicator on the same time-frame, then continued
falling. Currently the pair is testing the support at 130.20 and considering
the aforementioned candlestick it will probably break out below it. If or when
that happens there will probably be a further move to the downside towards
129.60 for yet another test of that support. Now the question is whether that
will lead to a triple bottom or there will finally be a breakout.
Excellent assessment, taking note on it.
ReplyDeleteSeems like its going for a double bottom.
ReplyDeleteThe pair is consolidating on the low.
ReplyDelete