Potential Correction on JPYSGD?
Looking at the trend pattern, there's a potential that the price will go up to the Wave 5 which might signal that there's a potential that the trend is approaching its end and could result in a correction or a reversal.
Looking at the daily chart, we see the price rally beyond the 0.0129 resistance zone but clearly gets rejected which signals that the bulls are having a hard time pushing the price up.
Moreover, both the stochastic and the rsi are currently at the overbought zone which give confluence to our analysis.
Looking at the daily chart, we see the price rally beyond the 0.0129 resistance zone but clearly gets rejected which signals that the bulls are having a hard time pushing the price up.
Moreover, both the stochastic and the rsi are currently at the overbought zone which give confluence to our analysis.
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