Japanese Yen is nearing a crucial point of FIBO level 61
This level can be see as a pivot point for price action many times over and over again
The yen fundamentally is in a 20+ Year run of Qualatative easing and negative interests rates
The new BoJ Ueda seems very reluctant to use any type of terminology that leads one to believe that a swift change is on the horizon
However the tides are still shifting for the YEN and the consensus of a great majority of economists in the region is that its not a matter of IF QE will stop, its just a matter of WHEN
Assuming our critical fibo level holds as support for the WEEKLY uptrend, then we should see the DAILY/H4 trend turn from BEAR to BULL at these levels
Our targets are painted by the Fibo Extension of the potential support levels
This level can be see as a pivot point for price action many times over and over again
The yen fundamentally is in a 20+ Year run of Qualatative easing and negative interests rates
The new BoJ Ueda seems very reluctant to use any type of terminology that leads one to believe that a swift change is on the horizon
However the tides are still shifting for the YEN and the consensus of a great majority of economists in the region is that its not a matter of IF QE will stop, its just a matter of WHEN
Assuming our critical fibo level holds as support for the WEEKLY uptrend, then we should see the DAILY/H4 trend turn from BEAR to BULL at these levels
Our targets are painted by the Fibo Extension of the potential support levels
Looking to update the chart soon with MIDTREND ANALYSIS