Price has tested the are of resistance twice this year, will there be enough bears to push the market lower? Bulls are discomforted around this level with the resistance around 79.89, Bulls may be attracted to the if price trades higher above the 79.90
Nice analysis, we are in a buy trade at the moment on this trade but only for the short term, we are looking to get about another 50ish pips out of it before it reaches our target and we re asses the market.
FXCM_Chinese
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Great idea! Thanks for sharing, I have the same bearish idea on AUDJPY let me know how you think!
ForexHood
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@FXCM_Chinese, Great idea, It is already starting to sell off! Great shout my friend.