justatrader

Yen Futures - Still undecided

CME:J61!   JAPANESE FUTURES
158 3 0
With Russia/Ukraine weighing in on the markets, the Yen is one of the obvious safe havens in a risk off environment. But with easy money policy, its been getting weaker and weaker, which makes one wonder if this recent move to the upside is a change of trend or just a retracement.

Oscillators don't give out much clues. But if we look to the past, we see a short entry example. If the trend were followed, stops would be trailed to 0.9959. If this is taken out and price finds support (meaning: breaking the EMA + a support point) could mean a possible push higher. (So it would make sense to wait for a retest on the MA before taking longs).

Alternatively, the Yen could just continue pushing lower with the current rally being seen just as a mere retracement to the downtrend.
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ForceFollower
2 years ago
I find it bullish. It should continue upwards.
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timwest PRO
2 years ago
Can you publish a chart when you actually plan to take a trade? Thanks. Just place your buy stops and sell stops and your corresponding stop loss for your position. If you aren't sure, then wait or buy puts and calls on this market and make money whichever way it goes (up big or down big).
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justatrader PRO timwest
2 years ago
Yep. I think EOD today or EOD tomorrow, we should be able to ascertain the direction.
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