The Yen pairs will also benefit from my theory on equities going higher on hopes and promises of more stimulus coming to keep stocks propped up.
Both charts are similar and are at very important support levels and are showing signs of trend exhaustion. We are not making anymore lower highs and lower lows.
You can say we are perhaps going to make a head and shoulders pattern albeit not a beautiful textbook type. Again, all they show us is a transition of trends.
Watching for a break above 69.00 for NZDJPY and 72.55 for AUDJPY.
Other Yen pairs also look interesting as well, but I think these two charts look much better although GBPJPY can also be apart of this group.
Both charts are similar and are at very important support levels and are showing signs of trend exhaustion. We are not making anymore lower highs and lower lows.
You can say we are perhaps going to make a head and shoulders pattern albeit not a beautiful textbook type. Again, all they show us is a transition of trends.
Watching for a break above 69.00 for NZDJPY and 72.55 for AUDJPY.
Other Yen pairs also look interesting as well, but I think these two charts look much better although GBPJPY can also be apart of this group.
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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.