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Preparing to trade after FOMC

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today
2015-09-18_00-04-27eurjpy forex.today

2015-09-18_00-04-27eurjpy forex.today

So I hope the pips have been with you if you traded FOMC. Let us concentrate now on the present and future price action.

On this eurjpy chart we see clearly that price is over the two longer term moving averages.

Price is also making higher highs and lows.

It is also possible to see that price is overextended on the long side and seems to want to retrace.

That is exactly what we want. Preferably for price to come down to number seven.

There it would find support on previous structure and also from the blue 100 da MA.

A first target would be at number eight.

Best of PIPS

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