Technical analysis: •50 EMA rejection •200 EMA rejection •61.8% retracement rejection •Rejection of Key Horizontal Support/Resistance line @ 185.000 •Down-trending Market •Deceleration present •Tweezer Tops candle pattern •GBP/USD and SPX500 are both showing bearish momentum (weakness in the SPX500 often means strength in the Yen as a safe haven)
Negative Factors: •Price action has made a higher high and a higher low recently, but this can be seen as a pullback to create value.
Other Notable Factors: •Note that the 50 EMA and 200 EMA are about to cross, which would support a move lower