nmike

Eur / Jpy monthly

Long
FX:EURJPY   Euro / Japanese Yen
17
EurJpy is in a long term uptrend, price has stayed above the 10 ma for over a year. Price is just breaking above key resistance and the Trix (5) is turning back up.RSI is in the overbought area so there could be a short term pull back. What I have shown here is a typical alignment signaling a bottom. We had a Fisher positive divergence with Trix(5) trend line resistance break followed by RSI pivot break, final confirmation was a trend line break and price above the 10 ma and finally price above the 34 ma. Unless there is a drastic change in the monthly frame,dips in lower frames should be bought(long).

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