We had a massive selloff on this pair on Thursday after the ECB's dovish statements. Bulls have since attempted a relief rally but the upside is capped by the 20MAV on the Daily timeframe at 128.55
As can be seen above on the hourly timeframe, the pair has formed a nice bear flag that should break downwards fairly soon. With trade war tensions on the rise once more, the Yen looks to strengthen on risk aversion.
As can be seen above on the hourly timeframe, the pair has formed a nice bear flag that should break downwards fairly soon. With trade war tensions on the rise once more, the Yen looks to strengthen on risk aversion.
Trade active:
Breakdown has begun
125 is on the way
125 is on the way