USDJPY breaks massive triple bottom without losing bearish momentum

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD made a bullish bounce at the support trend line (green) and is now moving towards the Fibonacci targets of wave C vs A. Price also has strong daily resistance levels nearby (reds) and the psychological round level of 1.15, which could cause price to pause or retrace. 1 hour The EUR/USD turned at the 38.2% Fibonacci level of wave B (blue) after which it broke the triangle resistance (dotted orange) for a bullish breakout. Price indeed seems to have completed the

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