Reversal on EURJPY? I think so

Reversal on EURJPY? I think so


Hi guys,

this is the hourly chart on EURJPY             and i’m taking this long trade because of several reasons. First of all, we’re in a strong supporto zone on the daily chart and we’re also creating a nice divergence on the RSI there. Then, if we lower a timefeame (4H), you can see a couple of pinbars (candles with long wick to the bottom) signaling buying pressure entering the market (and also an engulfing kicker). Last reason comes in this timeframe with a double bottom closed by an engulfing candle right now, that could be the first sign of the bulls taking over the bears here.

If you have other ideas, let me know.
Otherwise, see you in the next chart!