Spotted a loss in momentum due to candle sizes at the bottom of the downtrend, also verging on oversold using the RSI. We also have an inverted hammer indicating a reversal on this pair.
Comment:
Industrial production released on Monday 30th. Measures the outputs of Japanese factories and mines. A high reading in industrial production is a sign of strength (Bullish), whereas a low reading indicates weakness (Bearish). Prediction this year is 3.4% which is down from the 4.2% last year. Hopefully the prediction is correct, to back up the bearish move from the JPY.