After a severe beating by the USD especially the tumultous rise inflation, Japans currency is gonna look for some relief as Tariifs will clearly lead to an economic slowdown of U.S economy, as more cheap stuff from China and the emerging market will clearly look to rise and that may weigh on consumer sentiment.
🟨 - Head abd Shoulders
🟥🔘 - Price/RSI Deviation
I think the price move down from the support seen at 48k really pushed the oversold indicator , support @47200 will be looked at next, if the price holds here we might see a bounce, a dead cat one probably, as we slowly grind back down, I call it Post-Santa rally meltdown, lol. Just kidding.
The price reaching 4800 looks overbought as the RSI shows a divergence, we should see a price retracement to 4300 level. The Support at 4700 will look to be tested near term, if it's broken, the price will head to 4300.
