CCI Bullish Divergence Very Clear

FX:EURJPY   Euro Fx/Japanese Yen
Eurogroup meetings to end soon. Be on the lookout for some news that excites the markets. Notice the epic bullish divergence showing on our 60 minute chart (yellow lines).

Also, Greece made its IMF payment:

Long Target: 136.40
im seeing two types of divergence here... this is the bearish divergence to your bull.

also i see that we are at a major support/resistance TL as shown here.

whats your outlook on the longer term charts like the monthly? I currently have a bias to the short side mainly because of the divergence we have printed on the monthly and the trend lines that have been moderately been respected for the last 2 years.
its always been difficult for me to decide what divergence trade to follow based on different time frames. Maybe i need to limit the time frames i view....all part of growing as a trader i suppose.
isomorph Saoldric
i am looking at daily and comparing how the CCI does vs my homegrown study, TDIm, and on the CCI we can see the bullish TL hasn't been broken yet and the new daily candle, which really surprises me, is actually bullish for now. i was expecting a faster fall rather than a turn around at this level.

isomorph Saoldric
also, previous weekly candle is an inverted hammer. and for some reason i still cannot fathom, 134.68 seems to be a significant level that was support but broken, retested from under and bulls failed to break (on weekly), and now re-testing it again. why this level?
EURObull isomorph
Hey Iso,
not sure why, and I too noticed the 134 area getting a lot of attention. Our long is working well, as we pass the 135 we will be watching for potential pullbacks to maximize our profits, then may jump in again long after EUR/JPY takes a breather.
EURObull Saoldric
Yes, too much information can sometimes bog us down. We focus just on 60 an 240 minute charts. Find what seems to work/feel best for you and your trading style. We have been bullish for quite some time now and will remain this way until EUR/JPY tells us something has changed.

Hope this helps!
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