InvestingScope
Short

NOKJPY: Channel Down approaching the 1W support. Cautious sell.

FOREXCOM:NOKJPY   Norwegian Krone / Japanese Yen
The pair is trading within a 1D Channel Down ( RSI = 44.336, MACD = -0.054, B/BP = -0.047) and it has recently priced its Lower High (Highs/Lows = 0.0000). The downside potential for a Lower Low is strong but attention is need as it may be limited by the existence of the 1W support at 12.9720. We are therefore selling for limited profit with TP = 13.1060 (previous Lower Low).




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