I have an overall bearish bias on GJ. But there are somethings that make me pause for caution.
That is the US-CHINA trade war, with China being Japan's biggest trading partner a negative effect on the yaun may also be bleed off into the yen. This may help influence the temporary bullish move.
Due to the hurting UK economy, i think there is more room for GJ to drop. Especially with the BOE considering negative interest rates and it actually being a possibility.
Technicals:
1.) There is a H&$ formed on the 4h and Daily, this may be the small bullish move leading to another sell off.
2.) An upward move may occur ultimately meeting resistance at the 132.500 quarter point
-which also exist a supply zone
-this will be a retest of a previous daily high, (a respect of the high is further confirmation to sell)
3.) The upward move would create a double top
4.) Price may also find resistance at the trendline
If all things occur, I can see price falling to the next quarter point 127.500 possibly down to 126.000
That is the US-CHINA trade war, with China being Japan's biggest trading partner a negative effect on the yaun may also be bleed off into the yen. This may help influence the temporary bullish move.
Due to the hurting UK economy, i think there is more room for GJ to drop. Especially with the BOE considering negative interest rates and it actually being a possibility.
Technicals:
1.) There is a H&$ formed on the 4h and Daily, this may be the small bullish move leading to another sell off.
2.) An upward move may occur ultimately meeting resistance at the 132.500 quarter point
-which also exist a supply zone
-this will be a retest of a previous daily high, (a respect of the high is further confirmation to sell)
3.) The upward move would create a double top
4.) Price may also find resistance at the trendline
If all things occur, I can see price falling to the next quarter point 127.500 possibly down to 126.000