Let's take a look at one of last weeks biggest gainers. EUR/JPY did face some serious bulls last week. Breaking through resistance lines like there is no tomorrow. However, price again is at resistance line. This time on daily chart and we predict that this resistance area will hold as RSI and Stochastic shows price is extremely overbought. MACD indicate momentum is dropping and with this information absorbed we will wait for price to bounce of the resistance before entering any Short positions.
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Let us know what you think about this idea and don't be shy to leave a comment as we always try to reply to them :)
Don't forget to follow us here and like our ideas as it helps to grow our channel.
Good luck !
