Daily - Strong historical support not broken, currently resting on downtrend resistance turned support. MACD divergence on lower low.
4Hour - Although quite small, double bottom with MACD divergence, price shot up and retraced to double bottom neckline, could be possible support. Also price retraced to fibs 61.8%. It's possible to draw a downtrend line on the 4H...
Uptrend trendline observed, price retraced to resistance turn support, weekly downtrend trend line broken. Daily price retraced to 0.382 fibbs retracement level.
Story for buy is quite good because of breaking of downtrend trend line.
Hi,
I believe that there is a bullish movement in the EURJPY due to the double bottom.
There is also an uptrend line that haven't broke.
However, there's a strong resistance level which may stop the bullish momentum.
Daily chart in congestion price at previous resistance.
4H weakening of bullish strength, MACD Divergence.
Bearish Opportunity but GBP is very unpredictable. Odds are favouring a short. Good luck.
Prices hit H&S Neckline after retracement and support level 1.364.
4H MACD Divergence likely to show bullish action after retracement to support line.
Possible upward potential towards 1.37, double top neckline.
Stop loss after H&S neckline broken, then likely bearish movement. Crucial support level.
