YEN - A safe haven

Many has invested in YEN when the market turns bearish or expects an upcoming market crash. We have been in a bullish run for more than 8 years running and the bulls are getting tired and they need a rest, i.e. a correction of 10-15% is necessary.

With the S&P 500, Nasdaq and possibly all indices globally at all time high, it is an alarm that one cannot afford to ignore. To buy YEN (FXY) means to sell USDJPY. That could also means other safe haven assets like Gold, Silver may see more upside.

Day chart shows since Feb 2017, the price has been hovering in the range of 108 to 114, a consolidating phase. It now sits roughly at the 50% FIB level on the day chart. Here, there is a possible rebound in the short term.

On a smaller time frame, 1H, it shows continuous selling and no signs of recovery as yet.
Trade safely, everyone

코멘트:

Seems like I was spot on, the unrelentless selling continues and pierced through the red dotted line. The fear level can be felt by many as price actions of many equities and indices continue to march northwards despite the valuations.

This too good to be true and when it would collapse is sending shivers to some traders who rather play safe and park some of the funds in Yen, a safe haven.

코멘트:

Charts reflect the emotions of the collective psychology of mass buyers and sellers. How they perceive the market and their actions are spell out in the chart. Read the news for entertainment but to me, charts triumph. there is a story within the candles, lines and trend movement. understand the motivation behind and if you catch it right , you can make money from the market. And the best part is you need not be 100% precise all the time.

코멘트:

hope you followed and made some great profits in shorting USDJPY