When assessing the intraday charts, there is a strong confluence of wave relationships in the 173.35-174 region. This suggests an elevated opportunity for a 300 pip sell back toward the purple support line.
The labels on the chart suggest an even deeper fall back towards 166. Let's take it one step at a time right now and see how this behaves as it approaches support near 169-170.
Feel free to check out DailyFX's Q1 Yen Forecast HERE .
Lastly, I would like to put a big shout out and THANK YOU to the TradingView webinar attendees yesterday. TradingView is an excellent host and we did manage to get off topic a few times which makes it fun too. There were some fantastic questions.
Many were asking for a recording of the webinar which can be found here - https://www.youtube.com/watch?v=1jE31mbhpDk&feature=youtu.be&a
I would like to highlight one question by Kyle who hasn't been profitable on his demo asking when should he go live. The answer was provided during the 1:02:25 to 1:06:56 mark of the video.
Check out the notes section of the youtube video for the links referenced in the video.
Have a blessed weekend!