The yen is breaking down of a long term trendline going all the way back to 1987.
If the yen continues to break down from the trendline and then breaks support at .008, it's likely to see .006 as the next target. It also just formed a double top on the monthly at .009, so the move down should be strong on a break of that support.
Let's see what happens over the coming months/years.
If the yen continues to break down from the trendline and then breaks support at .008, it's likely to see .006 as the next target. It also just formed a double top on the monthly at .009, so the move down should be strong on a break of that support.
Let's see what happens over the coming months/years.
Note
Now second support hit.We may see a bounce here but eventually then yen is going to the lower support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.