Hi traders,
Wish you for the profitable week ahead,
Last week the pair touches the yearly high of 1778, and from the technical perspective Gold will looks to go downwards it seems,
it reaches the resistance area of 1777 and this pair has formed a RISING WEDGE PATTERN during the period of june month, this pattern shapes the Gold's July fate.. lets wait and watch...
The 4 hour is turning up against 3/09/2020 low (101.19). 1 hour is turning down against 107.46 high. Near-term, while bounces fail below 107.46 high and more importantly below 109.85 high expect pair to extend lower to correct the cycle from 3/09/2020 low in 7 or 11 swings before upside resume.
Sell USDJPY
@108.10-55
Target: 105.00
SL: 109.50
Good luck
