My Current Active Open Trades: EURGBP, EURNOK, EURPLN, NZDJPY, USDMXN, CADMXN, XAUTHB, FXo EURJPY, FXo EURPLN, AX_UN, ANZ, BMO, CUF_UN, CSE, RY, Sber
JP Morgan (JPM) – Possible False Break of Key Support (Daily chart)
After gaining 24% between November 2016 and February 2017, JPM topped out at ~94.00 before falling back to the MT support zone around 83.00-84.50.
At the moment, we are looking at a possible false break setup of this support zone and if price manages to close and stabilize above the zone again, it is more likely IMO we will see a move back towards the all-time high at ~94.00 with only minor resistance around 88.00 standing in the way.
In case this support zone fails …... Keep reading