EURJPY -Double Bottom in Place? Draghi will make or break this!

15 Nis 2015

EURJPY Bears tried desperately to resolve the 1+ month range to the downside but look to be failing in their efforts. Temporary break below the 126.87 mid March low looks to be a whipsaw/fakeout BUT Draghi is stepping up to the plate today and can scupper the best laid technical plans. Very short term an inverse H & S pattern has formed with the neckline cited at 127.63. EXPECT VOLATILITY today and stay disciplined and employ strict money management principles!