EUR/JPY 27.04.2017
Time frame D1
Long-term downtrend, lower tops and deeper bottoms. Short term uptrend. The price reached levels of diagonal and horizontal resistance.
Price action signal: Pin bar at levels of horizontal resistance
Technical indicator:
DeM(14) - Entering in zone of overbought , if turn down the negative sentiment will prevail
SL: 122.50
Alternative scenario: If the price breaks over the diagonal resistance and make new high, the negative scenario will be dismissed.
Trader Bozhidar Arabadzhiev
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