USDJPY tested April 2017 low on fears that Pyongyang (North Korea) would launch another missile test over the weekend, which had added to last Friday’s USDJPY selloff. Last friday Yen had made a low around 107.32 followed by a strong pullback on monday leaving a strong tail on the bar chart again. Its the second time the pattern is repeating on north korea fears with a short term trade setup.
Pound is trading around 1.2494 and currently monthly sentimental RSI turned positive and likely to continue positive in the long term. It had almost taken 7 months for the sentiment to change positive since BR Exit. The Transition of sentiment from Red to Yellow color indicates positive trend reversal and the trend change is likely to be long term.
Shipping Corporation of India is the stock that is to be watch this week for shorterterm trend reversal from the bottom