USD/JPY 12.06.2017
Our expectations: Price entered in mid-term downtrend with lower highs and lower lows. A major support is broken and price tested the breakthrough.
Alternative scenario: If price crosses above the diagonal resistance and make higher lows then the negative scenario will spoil and we can look for long positions with SL around 110.30.
Comments: Price action signal: Pin bar on diagonal and horizontal resistances. Price is under EMA 200 and 50. DeM(14) - turned in overbought zone and broke 0.7 level - negative signal. Fake breakthrough the Fibonacci 23.6 level. SL: 111.00
Trader Bozhidar Arabadzhiev
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