Our expectations: The price could not go above the resistance 124.00, where it formed a price action signal for a decrease. Possible short with stop 124.78
Alternative Scenario: Passing the price above the top will change the formation to long
Comment: Down trend and mid-term long to resistance levels of 124.00
Price action signal for possible decrease: engulfing bar
Pin bar at resistance level also negative signal
The caution on the market today supports the yen
Stefan D. Angelov - Head of Stocks Trading
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