EUR/JPY Approaching Support

7 thg 2, 2016

Starting with daily price has been trading within a down channel for several months. Failed at channel resistance and closed below the 50 period moving average. Price is facing significant support at 126 area, which it has tested multiple times since 2015. Expecting price to test this area, and will be waiting to see if price can break through and continue downwards.

On weekly you can see price failed from long term down trend line, and failed at 20 period moving average. Approaching support, and will look to see to how price reacts to weekly 200 MA.

8 thg 2, 2016

Ghi chú

Strong bearish candle today. Trade in over 150 pips profit. Price recently broke below 20 day moving average.

9 thg 2, 2016

Ghi chú

Closed trade out today due to price action

11 thg 2, 2016

Ghi chú

Great move on the Yen pairs, shorted multiple positions of GBP/JPY and USD/JPY, still running over 2,000 pips

26 thg 2, 2016

Ghi chú

EUR/JPY has broken through major support. If support tests as resistance, this could be the sign of a major trend continuation. Cheers.

8 thg 3, 2016

Ghi chú

Price is retesting support and Yen pairs are looking interesting. However, they need significant down moves to be trade-able IMHO.