Looks like a Bearish breakout to me
Oops. Did I call it by accident?
50% Fibo was retested twice with the minor resistance staying just as faithful. Replotting the Median line shows a slight slowdown in bearish action, however, it was still strong enough to surpass the 61.8, breaking through and even breaking outside of the pitchfork. Aroon and CCI are both signaling downward strength. The question now is very simple: Will we retest the major support before truly bouncing back up? Or is the Yen headed back 20 years?
I'm thinking to wait for confirmation around the 105 -
105.20 price point to aim short and/or have a back up ready. Comments?
(Past performance is not indicative of future results! This is by no means a signal - trade at your own risk.)
50% Fibo was retested twice with the minor resistance staying just as faithful. Replotting the Median line shows a slight slowdown in bearish action, however, it was still strong enough to surpass the 61.8, breaking through and even breaking outside of the pitchfork. Aroon and CCI are both signaling downward strength. The question now is very simple: Will we retest the major support before truly bouncing back up? Or is the Yen headed back 20 years?
I'm thinking to wait for confirmation around the 105 -
105.20 price point to aim short and/or have a back up ready. Comments?
(Past performance is not indicative of future results! This is by no means a signal - trade at your own risk.)
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