USDJPY. Global map. Huge risk aversion is ahead
Yen is in demand when something terrible happens with the world, at least financial.
This chart shows that we are on the edge. Don't blame Trump, he is not in yet )))
Green rectangle shows the area of potential reversal down where the green (c) of X = 1.618-2 of green (a).
White falling trendline shows the maximum dollar strength area.
Downside targets within the 61.8-78.6% Fib of the major upside move.
Usually 78.6% has been hit as it's a large ABC.
This chart shows that we are on the edge. Don't blame Trump, he is not in yet )))
Green rectangle shows the area of potential reversal down where the green (c) of X = 1.618-2 of green (a).
White falling trendline shows the maximum dollar strength area.
Downside targets within the 61.8-78.6% Fib of the major upside move.
Usually 78.6% has been hit as it's a large ABC.
Comment:
2 possible labels I see
First - Ending diagonal
Second - standard 5
Anyway MACD (subchart) shows we are somewhere close to an end.
First - Ending diagonal
Second - standard 5
Anyway MACD (subchart) shows we are somewhere close to an end.
Comment:
Update. 3H chart
Baby one more time )))
Baby one more time )))
Comment:
Update 3H chart
either white or green labaels
invalidation area is in red
invalidation area is in red
Comment:
Update 1H chart
Does anyone see it this way long term? Comments are highly appreciated friends.