Sell below 112.65. Stop loss at 113.51. Take profit at 110.90. Reason for the trading strategy (technically): Price has broken our key support level triggering a bearish move from here. We look to sell on strength below 112.65 resistance (Fibonacci retracement, pullback resistance) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support). RSI (55) sees bearish divergence signalling that a strong reversal is impending. We also see that is has dropped below 50% meaning it’s the start of a strong change in momentum.
Please post more of these analysis, it is one of the best I have seen in tradingview and I follow it everyday. Sending love from USA!
MEX_Exchange
⋅
@mepo6869, Thanks! Glad you like it and see the quality of the analysis we do here at MEX Exchange. Feel free to swing by our site to get more good analysis and support for your trading journey :)
banotetizov
⋅
I love your analysis on USDJPY always!
MEX_Exchange
⋅
@banotetizov, Glad you like it! We called the break on USDJPY really nicely too :)