Buffetbaby

Slow and steady wins the race

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
The Yen a.k.a "the" safe haven investment has seen sum nice rallies this year. So whipping out the Fibonacci we can see that from our swing high October 3 we had a high of 114.52. We are at around 38% retracement of that price so we should expect to see a bearish push since it has held very nicely as a resistance. The Rsi as of this writing was nearing the 50% area and the Yen is above its 65 day (blue line) moving average. Look for sum tests of the 112.73 area before a breakout to the golden 61.8% range
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