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.
I'm somewhat quiet on TView for now but you can find me pumping content every day in my Telegram Trading Group 🧐
Part 2 of the fortnight video now uploaded to the group: 27th May - Crypto focus😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
Part 2 of the fortnight video now uploaded to the group: 27th May - Crypto focus😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
