USD/GPY chart Analysis 1hour sell possible This is a USD/JPY (U.S. Dollar to Japanese Yen) 1-hour trading chart from TradingView. The chart appears to show a downtrend with a descending trendline (blue line) and a marked sell zone (red area). Here’s what it suggests:
1. Downtrend Confirmation: The price has been declining, forming lower highs and lower lows.
2. Resistance Zone: The red-shaded area is identified as a sell zone, where price previously faced resistance (failed to break higher).
3. Rejection Points: The red arrows mark key points where the price attempted to rise but got rejected, reinforcing the sell zone.
4. Possible Trade Setup: Traders may look for short (sell) positions when the price reaches this zone again, anticipating another rejection and continuation of the downtrend.
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