Hello Traders
After a long drop, EUR/JPY finally showed some strength. We believe price will continue upward after a short retracement.
Reasons:
1-Price broke out of consolidating zone.
2-Bottom of channel did its support job.
3-We can see a strong big green candle(looks like buyers stepped in).
4-Downward trendlines in Price and RSI has been broken.
5-Bullish Reveal Divergence in RSI.
Thanks for Reading
Team Fortuna
-RC
After a long drop, EUR/JPY finally showed some strength. We believe price will continue upward after a short retracement.
Reasons:
1-Price broke out of consolidating zone.
2-Bottom of channel did its support job.
3-We can see a strong big green candle(looks like buyers stepped in).
4-Downward trendlines in Price and RSI has been broken.
5-Bullish Reveal Divergence in RSI.
Thanks for Reading
Team Fortuna
-RC
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.