EURJPY reversal

24 Mar 2016

High quality reversal setup. Impulsive move down to create a low, with a pull back, then a lower low, then a pullback to make a higher high, and finally a low higher than the previous low with a pinbar. As you see, price pushed up after the pin bar indicating the setup is valid. Now price is consolidating in the range before making a leg higher towards the 130 handle.

28 Mar 2016

Not

price is testing the top of the range. Watch for a break and close above the last high to confirm a long entry.