- Current price action is at support near the 200EMA
- 100% pullback on the previous leg/push
- Recent divergence on the MACD waterline
- Higher probability of upside movement to the upside
- Price is still above the 200EMA
PLEASE SEE MY RELATED IDEA FOR PREVIOUS ANALYSIS
The chart shows all again! Support and Resistance areas highlighted in blue. Upwards trendline as support also to help pick my exit to this trade.
We've seen the USDCHF and USDCAD come down today and USDJPY is now also showing signs of following hence the entry into this trade.