EURJPY Forecast and Trade setup for the week 24th March, 2014
EURJPY Forecast and Trade setup for the week 24th March, 2014
Daily Chart
- Stochastics is having a positive divergence, however due the the market condition of the Nikkei index, I am biased to the downside
Hourly Chart
- Broken ascending trendline
- Negative stochastic divergence
- Ichimoku Clouds is nearing which could do as resistance
- I also see a cypher pattern complete right now on the hourly / 4hr
Outlook Trade opportunity
At writing this analysis, I have entered a short position targeting 139.90. However risk is high as we are trading close to support than resistance.Risk Level Medium
Tips -
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