Will the Fall of USD Bring Hope to the Crypto Markets?
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
USD/JPY: intraday trading
2019-11-11 • Updated
Trade ideas
BUY 111.00; TP1 111.30; TP2 111.55; SL 110.90
SELL 110.55; TP1 110.30; TP2 110.10; SL 110.65
Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming. The US economic data due later today may act as a trigger. The overall trend is to the upside, but the pair is trading in the middle of the bigger range and may correct to the downside. As a result, both scenarios have almost equal probability.
Notice that on the upside, resistance is provided by the 200-day MA (111.30) and 110-day MA (111.55), while the 50-day MA acts as support (110.10).
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