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 took a blow
2019-11-11 • Updated
SELL 110.20; TP 109.80; SL 110.35
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one. The pair tested level above the 50- and the 100-week MAs but then turned lower. Support lies at the declining 50-day MA at 110.25. A decline below this level will open the way down to 109.80/60. On the upside, USD/JPY needs to overcome 110.70 to revisit high at 111.15.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
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