EURJPY testing resistance, potential drop!

19 апр. 2018 г.

Price is testing our first resistance at 133.00 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement). A strong drop might occur below this level, pushing price down to our major support at 130.13 (horizontal swing low support, 76.4% Fibonacci retracement). A breakout below our intermediate support at 131.11 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension) might provide the bearish acceleration to our major support level.

RSI (55) is also seeing a bearish divergence, a good precursor for a potential drop in price.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.