NZD/JPY Technical Analysis: Supported at the 61.8% Fibo, eyes on 72.20 recent lows


USD/JPY’s 4-hour chart shows the relative strength index has created higher lows, contradicting the lower highs on the price chart.  That bullish divergence represents temporary bearish exhaustion, meaning the stage is set for a corrective bounce to 110.28, especially if the risk appetite improves somewhat. 

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Trade ideas thread – Friday 16 August 2019

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