Price had rejected at a resistance which is a "previous support turned to resistance" area in Daily nd Weekly time frame.
In COT report, hedge fund has been closing a lot of short positions in JPY which means JPY is getting stronger. However, in the previous two weeks data, hedge fund seems to have buy some short positions but eventually continue close some short positions in the latest data. In this situation, we may think that hedge fund is going to test the market and might intend to buy short positions in the future.
In this situation, we foresee the price will be pushed to the downside first and wait for the latest data on next week.
Kindly take note that my analysis is based on COT report and technical analysis .
Also, we always reacting to the market instead of predicting the market.
In COT report, hedge fund has been closing a lot of short positions in JPY which means JPY is getting stronger. However, in the previous two weeks data, hedge fund seems to have buy some short positions but eventually continue close some short positions in the latest data. In this situation, we may think that hedge fund is going to test the market and might intend to buy short positions in the future.
In this situation, we foresee the price will be pushed to the downside first and wait for the latest data on next week.
Kindly take note that my analysis is based on COT report and technical analysis .
Also, we always reacting to the market instead of predicting the market.