Direct from the desk of Dane Williams.
I have a crazy day of deadlines for my copywriting work, so just a quick chart of one of the markets that we have in play.
One eye on Google Docs and the other on EUR/JPY.
I wouldn't have it any other way!
EUR/JPY Daily:
So remember 16 days ago when we spoke about using the EUR/JPY flash crash support zone?
Well, you can see price dipped below it, but then ripped hard.
If we're treating support/resistance as a zone rather than a hard level, that's still price respecting support.
Now to start the week, price has pulled straight back to retest the zone again.
If price can't manage to print a new low, this is a bullish sign and there will surely be opportunity to get long off the back of it.
Best of probabilities to you,
Dane.
FOREX BROKR | Hive Blog
Higher time frame market analysis.