GJ failed to break above 200 and this week showed strong bearish sentiment. Technical is sideways to retest lower trendline at about 190.5; to me, the chart looks like a bearish flag where breakdown below the trendline will cause significant downward pressure. The 9 weekly SMA is bearish and this week 1/10/25 caused a breakdown below the 20 weekly SMA. Downward potential range for the short-term 100-150 pips in next 2-3 weeks and 500 pips within next 2 months. After the first 500 pip downfall, i expect the next 500 pip downward move to continue
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.