This pair today reaches critical levels for creation of a bottom.
The decline since the 9th of May now totals 700 pips or 7 yen per pound. This level is ideal for the creation of a bottom and we should see a bottom created in this area.
The decline since the 9th of May now totals 700 pips or 7 yen per pound. This level is ideal for the creation of a bottom and we should see a bottom created in this area.
Comment:
If prices fail to rally from this level, another long downtrend should follow, possibly toward a bottom around 133.