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Adooma14

4hr support zone and 15 minute descending triangle!

Euro / Japanese Yen (OANDA:EURJPY)  
Adooma14  
OANDA:EURJPY   Euro / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators Descending Triangle supportandresistancezones support Relative Strength Index (RSI) stochasticoscillator multitimeframeanalysis
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trendanalysis chartpattern indicator descendingtriangle supportandresistancezones support relativestrengthindex stochasticoscillator multitimeframeanalysis
EurJpy: On the left side (4hr chart), you are able to see a support level that was hit multiple times. This support line is an attractive spot for all traders that analyze the chart. This level can either hold and push the price up or break and push the price down. On the 15-minute chart, you are able to see a descending triangle forming. Wait for the triangle to form and a higher high to take place. This trade can also go to the downside. that is if the triangle is broken to the downside which means the 4hr chart wants to break that support line. Indicators on the 4hrs match up with the descending triangle. They want to push the price higher.
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