EUR/JPY
As we can see on the daily chart, the main trend of the pair is a downtrend.
The pair has arrived to a support area, around the level of 119.00.
On an hour chart we can see that a double bottom pattern is created, and at the indicators RSI and MACD a bullish divergence is developing also, but this yet to be implemented.
We are waiting for a bullish pattern that will put into effect this divergence, part of a technical upward correction.
For Forex traders:
Buy between the levels of : 118.85 – 119.15.
Stop loss point : 118.50.
Take profit point : 121.00.
For Binary options traders:
A call option between the levels of : 118.85 – 119.15.
Expiry time : June 14, the end of the trading day.
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