EURJPY Forecast and Trade Setup for 31st, March, 2014

EURJPY Forecast and Trade Setup for 31st, March, 2014

Daily Chart

• Positive Divergence in Stochastics while MACD stays above positive territory

Hourly Chart

• Trading below the Ichimoku Clouds, however nearing to test its resistance
• Trendline , and Important Fib levels also around the clouds
• Stochastics on H4 is overbought
• My bias is to short this and continue the bearish leg (AB =CD)

Outlook Trade opportunity

Look for candle formation around the potential resistance reversal zone as per H4 chart

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below