Yahia.Awes
Long

Almost time to get bullish for the Yen

AMEX:FXY   GUGGENHEIM CURRENCYSHARES JAPANESE YEN TRUST
46 3 5
Believe me not, believe what the chart shows. The FXY             is at it's lowest level since 2007 and I believe it will rally soon.
Hi LK, good observation.

You are right, this chart shows a preparation for trend reversal. Evidence (1) we have 5 correction waves completed, (2) correction characteristics 2x(consolidation next fall) a pattern that I expect also in gold (the final fall section), (3) double support formation, even if it drops again we will have Adam-Eve a strong type of triple support, (4) and finally a positive divergence (long term) is evident in RSI and particularly MACD.
+1 Reply
Yahia.Awes cfetrader
@cfetrader, that is what they call analysis. You have done it very deeply ;)
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cfetrader Yahia.Awes
Thank you LK.
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