1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USDJPY consolidates after crack of key 111 support zone; overall picture remains bearish

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    EURUSD The Euro extends correction off 1.1341 (17 Mar recovery peak), following last Friday’s strong bearish close. Slow Stochastic of daily chart is reversing from overbought territory, signaling further easing, before bulls resume. Setup of daily MA’s remains firmly bullish (double Golden Cross) and favors final push towards key barrier at 1.1374 (high of 2016, posted on 11 Feb), after completion of current corrective action. Initial support lies at 1.1200 (hourly Ichimoku cloud base,

    Continue reading...
     

Share This Page