Currently, we have not elected any Daily Bearish Reversals from this new high of Thursday December 15th. The immediate Daily Bearish Reversal to watch lies at 11484. A closing beneath this level will signal a temporary high is in place. Additionally, 11701 offers some technical overhead resistance for now. Moreover, our Daily Bullish Reversal to watch stands at 12150 and it will require a daily closing above this level to signal new highs lie ahead. We need a daily closing above 11762 to imply a further rally is unfolding technically speaking.Nevertheless, we closed bearish on our momentum and trend indicators warning the market is still weak.
Victor.Y.F
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Thank you EXCAVO! It could be a monthly pullback to 106.38, watch 2005/1- 2007/6 to find the clues. YEN pairs will depend on BOJ wants to keep Japan inflation flat or reach the inflation target in Japan but not the forex rates. I think YEN will be weak from indexes bull market but at first a pullback.