CHF/JPY: 05.04.2017 D1 chart.
Uptrend and correction to 38,2 Fibonacci.
Price on key horizontal support and diagonal supports - probable end of the corrective movement.
Price action: Pin bar at levels of support - probable upward impulse.
Indicators:
Price between 50SMA and 200SMA, as 200SMA is below - long positions remain more probable.
DeM(14) in oversold zone below 0,3 - as reversal will confirm the buy opportunity.
SL 109,70
Alternative scenario: Break below the bottom shadow will make short positions more probable.
Trader Nikolay Georgiev
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