Great LONG opportunity on EURJPY
After long downtrend that started back on Dec 15th, price
hit a KEY resistance level dating back to OCTOBER 2014.
market respected this level and bounced, then tested again
forming a double-bottom. Price respected level once
again and we now have a break-above short term support ...
This PAIR has been in a down trend since the beginning of the month.
Descending Broadening Right Angle pattern has emerged. Based on
this pattern and the overall trend of this pair it's a great time to go SHORT.
Case for entry:
1. Selling into the prevailing trend.
2. 6th touch on right angle resistance.