Mikegg26
Long

Strength Reversion on the Daily chart

FX_IDC:EURJPY   EURO / YEN
27 0 0
At the 136.900 zone there used to be major resistance then we had a triangle, it broke out of the triangle and is now coming back to test the prior resistance and i think that will be new support also at that time the 50 sma will be hit on the daily chart and the RSI on smaller time frames such as the 4h will possibly make it to the over sold zone (below 30). i would wait for the RSI to get back into the neutral zone the go long on this pair and it could be for a few days to a few weeks.
Also check out my video on YouTube where i explain this in further detail. look up Strength Reversion | EUR/YEN Outlook or click on the link.
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