Bullish reversal candle pattern. High probability candlestick with 1:2 Risk/Reward ratio.
Concentration of long term support levels underneath current price could attract retest of those levels prior to reaching entry price. If price drops through 9.40 expect continuation of bearish EURO influenced by rising oil prices. Limit entry or Entry above previous bars high.
Possible short term volatility leading to break-n-fake. Place Stop Loss at Top/Bottom of channel +/- 1 pip dependent on trade direction. High probability trade with 1:1 Risk/Return Watch Bank of Japan news at 01.00 GMT
Likely to retest the recently broken 5 year resistance and 7 year support level of 90.0. *Optional - Take half profit at TP1 91.10 Watch the Bank of Japan Governor Kuroda speech at 01:00 GMT on Monday 11