On April 14th, on SmartTrading, we pointed out how a third low of price compared to a third rising low of the Rsi was necessary to EurJpy to get a chance to come back to sell Yen, well comforted by our CotFx sentiment indicator.
As for the textbook of the technique analysis, the movement of the cross reached the low of 126.09 below the previous 126.91 in March before a strong restart just the very day after the analysis. The trend line that linked the tops of the final diagonal has been broken upward, and the acceleration has produced a rally that is now a noteworthy resistance level, quite difficult to overcome on the first try. We can see quite well in area 137 that a take profit could occur while waiting to see the next direction of EurUsd.
As for the textbook of the technique analysis, the movement of the cross reached the low of 126.09 below the previous 126.91 in March before a strong restart just the very day after the analysis. The trend line that linked the tops of the final diagonal has been broken upward, and the acceleration has produced a rally that is now a noteworthy resistance level, quite difficult to overcome on the first try. We can see quite well in area 137 that a take profit could occur while waiting to see the next direction of EurUsd.
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