JPYINR is resting at 200 week moving average (200WMA) on the weekly chart. The overall price action is bearish as the pair has been on a continuous downtrend since Nov'20. Will be interesting to see how the price behaves at this level. Bullish forces can take the price upward as 200WMA can be a good support while bearish forces can take the pair further down toward 0.64 Fib levels. A good trade can develop on either side in coming weeks.
Clear suggestion is nowhere whether i should buy or sell considering the history and sentiment.
vipulmehta817
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@paras44nath1948, Bro this was published in Oct'21, depending on the way a trade was developing on the chart at that time. The price action in the following weeks exhibited no clear place for entry hence no trade was initiated.