EURJPY’s recent positive legs from the 135.00 handle are now struggling to overcome the early May highs, which are being reinforced by the upper Bollinger band overhead. Despite the waning in positive forces, the advancing simple moving averages (SMAs) are backing the bullish structure. The short-term oscillators are suggesting buyers are in control but are reflecting the latest weakness in upside momentum around the 137.70-138.38 resistance section. The MACD is slightly north of the zero threshold and is holding above its red trigger line, indicating positive forces have yet to fully subside. Meanwhile, the minor ... (full story)
Joined Mar 2008
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Status: PVSRA with Traderathome
|1621 Comments
"EURJPY battles to fuel bullish bias..." Oh, really?
Maybe the title should read "EURJPY 'news' battles to fuel bullish bias...."
We need to be careful. Volume is hinting the opposite story. Could well be from MMs recently rushing price up above whole level and now engaged in a lot of SM sell orders filling above that whole level................HTMRW.
And "news" is helping out by putting the "bullish notion" into the heads of readers. MMs need bulls for liquidity to help fill SM sell orders............HTMRW.