The JPY is under pressure. The rally is triggering a long squeeze in the support zone of 158.3–158.0. The rebound is heading toward the zone of interest—the consolidation and imbalance zone of 159.4–159.6
The daily structure has a parabolic reversal pattern, indicating that the Japanese yen is halting its decline against the dollar, which has entered a correction.
Scenario: A false breakout of the 159.4–159.5 zone could trigger a local downward move toward the area of interest at 158.6–157.5
The daily structure has a parabolic reversal pattern, indicating that the Japanese yen is halting its decline against the dollar, which has entered a correction.
Scenario: A false breakout of the 159.4–159.5 zone could trigger a local downward move toward the area of interest at 158.6–157.5
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❤️ Telegram channel: t.me/AndeWave
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.