EURJPY Looking Left

8 Okt 2014

Nothing too fancy here on the EURJPY just a simple structure based trade. Looking left you can see that the market has had trouble breaking this resistance level as of late. Combine that with the RSI being oversold and the existence of a double top featuring RSI featuring bearish divergence and it's more than enough for me to take a shot on.

This top was also a move that stopped many traders out of a bearish Cypher this morning coming off the release of the FOMC minutes.

Akil

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