Trade Suggestion
Technical Analysis:
- Overall trend is bearish, giving more indication on high probability sell off opportunities
- JXY index (Japanese Yen) is showing bullish strength for the currency
- DXY index (US Dollar) is showing bearish weakness for currency
Technical Analysis:
- Price has reached previously tested supply drop after bullish surge and breakout over consolidation area
- Overall trend is bearish as 50 EMA is above price acting as resistance on D1 Timeframe
- Supply zone is aligning with 50.0 fib level, adding bearish confluence to my short analysis
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Disclaimer
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.