This morning 7:45 am NY time the European Central Bank had a meeting and The central bank said it expects its key interest rates to remain “at their present or lower levels” at least through the first half of 2020. They went on to discuss how they intend to reintroduce a Quantitative easing program. Additional info can be found here...
on the daily chart usd jpy is in a downtrend, has been retracing for the last week tho
connors rsi was greater than 80 which in the past indicated good short entry signals (idea for quant journal test the accuracy rates of indicators on each symbol)
hitting resistance at 108.282
broke under the uptrend line indicating weakness in the trend
setting stop loss at 15...
taking short on the bounce of downtrend line at 0.98800, should've waited for the bounce to enter but I was to trigger happy but will be adding to position when it hits the line.
9:45 tomorrow morning US PMI data will come out
previous 51.5 predict 51.7
may drive down prices if news is negative
sl:0.99073 above trendline
tp:0.98045 at support
drop in spy saw lows of range again.
strength in premarket rallying up
beginning of 2 days fed meetings
watching the 257.66 level to short against
keeping an ear open for fed decisions
play move to move bc were in a tough space
open to a bounce higher off the lows to continue the range