YEN Futures recently a 20 year low.
It has just below also hit a long term 1:0.618 taking the 3 waves from the top.
Considering the significance of the low it should at least have a strong automatic rally and as shorts cover their positions.
But it may also go on a real rally, perhaps even an enormous rally.
Fibs on the chart - a 0.5 retracement from the top could see it getting back to the area of previous tops and strong resistance at $0.0099.
Monthly RSI is down at 18. I would think it will get back at least to 60 - 70 area before a potential downside reversal.
Am bullish JPY against any pair currently and am short CADJPY.
Not advice.
It has just below also hit a long term 1:0.618 taking the 3 waves from the top.
Considering the significance of the low it should at least have a strong automatic rally and as shorts cover their positions.
But it may also go on a real rally, perhaps even an enormous rally.
Fibs on the chart - a 0.5 retracement from the top could see it getting back to the area of previous tops and strong resistance at $0.0099.
Monthly RSI is down at 18. I would think it will get back at least to 60 - 70 area before a potential downside reversal.
Am bullish JPY against any pair currently and am short CADJPY.
Not advice.
Your FA guru can't read a chart💭
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.