GOLD has recently broken the yellow resistance line of descending maximums. Now this line has turned into support for new descending minimums of the overall tendency. Additionally, the 200 MA is also acting as a support for the price right now.
At the moment the price is fluctuating between the yellow line (strong support) and the purple zone (previous support...
USDJPY has been moving in a clearly defined descending channel since September 2020.
Now the price has entered the resistance zone, so I expect the price to start falling in the next days, maybe after some depletion of the current bullish impulsive move.
I think it is a good opportunity to open short position with a good Risk to Reward Ratio.
Please comment...
