Good short term retracement trade. Not a super strong resistance, but should work. Weakening of JPY will lead to upward move, after settling of political issues in US.
Nice short-term Reversal Trade taking advantage of the upward move in the range bound trading. The removal of political risk and the inflow of investment from US to europe would further boost it.
Having done a Fib Retracement of the recent upward swing, 1970 lies as the 50% retracement level. Also, the RSI points towards entering the oversold territory as it hovers around 1970.
