EURJPY has reached a very strong support level - 130.0. It is also a round number which is psychologically strong, and coincides with a strong support trendline in 4-hour chart. This leads to bullish movement in this pair.
Traders can join the trend if the pair makes another bottom, creating a double bottom. Entry can be exactly at the second bottom, and at the neckline (at breakout or pullback).
Analysis source:
http://support-and-resistance-trading.com/2009/09/28/eurjpy-support-level/
Traders can join the trend if the pair makes another bottom, creating a double bottom. Entry can be exactly at the second bottom, and at the neckline (at breakout or pullback).
Analysis source:
http://support-and-resistance-trading.com/2009/09/28/eurjpy-support-level/
