📊 Technical Analysis
● Monday's rebound above the 4-month falling trend line was quickly repelled, leaving a “false breakdown” candle; price has returned under the line and is now retesting it as resistance around 144.65.
● The rebound also stopped at the top of the triangle and a small bearish flag formed; the height of the pattern points to the 142.80 support band and the broader channel to 139.90 as continuation.
💡 Fundamental analysis
● Softer U.S. core GDP data drove 2-year Treasury yields to two-week lows, reducing the rate differential that favored the dollar.
Meanwhile, Japanese officials again warned that they “do not rule out any measures” against excessive yen weakening, raising the risk of intervention and discouraging new long USD/JPY positions.
Summary
Short 144.4 - 144.65; break below 143.8 targets 142.8 -> 139.9. Bearish view loses strength with a 4-hour close above 145.30.
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● Monday's rebound above the 4-month falling trend line was quickly repelled, leaving a “false breakdown” candle; price has returned under the line and is now retesting it as resistance around 144.65.
● The rebound also stopped at the top of the triangle and a small bearish flag formed; the height of the pattern points to the 142.80 support band and the broader channel to 139.90 as continuation.
💡 Fundamental analysis
● Softer U.S. core GDP data drove 2-year Treasury yields to two-week lows, reducing the rate differential that favored the dollar.
Meanwhile, Japanese officials again warned that they “do not rule out any measures” against excessive yen weakening, raising the risk of intervention and discouraging new long USD/JPY positions.
Summary
Short 144.4 - 144.65; break below 143.8 targets 142.8 -> 139.9. Bearish view loses strength with a 4-hour close above 145.30.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
Trade closed: target reached
Closed +171 PIPS
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Crypto signals in telegram
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Related publications
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.
90% accuracy in telegram
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
Related publications
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.