EUR/JPY: Mid-term downward movement and a short-term upward correction
Price reaches levels of resistance 50% correction- Fibo level
Two bars known as "spinning tops" - current bar, which goes under minimums of previous two- negative signal for a possible decrease.
Divergence- price indicators - signal for a possible decrease
Sentiment: last upward movement was supported by th growth of the indexes and the positive sentiment on the stock market. On the other side today a little correction on the stock market is possible, because of the lack of iconomic data and the decrease in the oil prices, which can have negative impact over JPY.
Stefan D. Angelov - Head of Stocks Trading
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