Add these 3 features to your EURJPY chart
In this EURJPY daily chart from May 2016 till date, three prominent features are equidistant up-channel painted in blue, equidistant down-channel painted in pink and a mid-extended trend line in the middle of blue channel.
At this moment, price trend is following the down-channel but recent support at low of May came from mid-extended line. Expect another test at for support at this line. If supported, price will look for resistance. If there is no support, then move on to test bottom of blue. These tests could happen in any order.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
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