As from my previous analysis, I spoke about JPY will become stronger because of the current worldwide recession, and in the new week, JPY may become stronger again. Because from the daily chart, the price may keep creating a new I.C.I pattern for us.
From the COT perspective, hedge funds are still bullish on JPY. Although now EUR is look stronger than JPY but the recession could make JPY become stronger since JPY is safe heaven currency.
It is best for us to monitor the price action in the 4h time-frame inside the strong structure area if the price breaks below the structure, I will be waiting for the retest before going for short.
Remember, always reacting to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.
From the COT perspective, hedge funds are still bullish on JPY. Although now EUR is look stronger than JPY but the recession could make JPY become stronger since JPY is safe heaven currency.
It is best for us to monitor the price action in the 4h time-frame inside the strong structure area if the price breaks below the structure, I will be waiting for the retest before going for short.
Remember, always reacting to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.