EURJPY - Uptrend Pull-Back. Post: Double Bottom Reversal - LONG
Great LONG opportunity on EURJPY
After long downtrend that started back on Dec 15th, price
hit a KEY resistance level dating back to OCTOBER 2014.
market respected this level and bounced, then tested again
forming a double-bottom. Price respected level once
again and we now have a break-above short term support and
close above short term support.
Now we are @ a pull-back after a reversal candle (evening star)
so a great entry point to go long would be once the pull-back hits
the .618 retracement, that will be the trigger to buy (long).
Good Luck!
After long downtrend that started back on Dec 15th, price
hit a KEY resistance level dating back to OCTOBER 2014.
market respected this level and bounced, then tested again
forming a double-bottom. Price respected level once
again and we now have a break-above short term support and
close above short term support.
Now we are @ a pull-back after a reversal candle (evening star)
so a great entry point to go long would be once the pull-back hits
the .618 retracement, that will be the trigger to buy (long).
Good Luck!
