So this move upward was very strong and direct, expecting some reversal either t holds at the new support and surges higher, which seems a bit outrageous to me, i would expect a bit more of a consolidation and fall back possibly to the heavily confluent area. If it goes ahead i ahve a fb level at .959 level for a target.
This is an inverse Correlation.
A weaker breakout. If this holds off, around the price zone. Be cautious with the US stock market. Nothing scares me from the market internals perspective for a down move. Such correlation is where everything begins.
- Caution Zone.
With the yen ending Friday with a dojo up against trend line resistance, we can expect a re-tracement back down. This would result in a rally in the overall stock market.
This shows Yen Index has started its breaking-thru the Long-term descending Resistance Line.
And also Golden Cross (DMA 50 & 200) has just been accomplished today (Red line is DMA50):
stockcharts.com
I added Daily Bolinger Bands on this Chart.
Present situation is that Bollinger Band upper line is expanded upward.
Its bullish trend came back with Yen Index.
(my...
The Yen is sitting near an important trend line going back to late 70's.
Could be near an important turning point. A break in the current downtrend similar to 90' and 98' could be the start of an extended rally in the yen.
FXY is the corresponding ETF to watch.
Overview.
-This is the Beginning of a Educational Series from Jake Bernstein to the TradingView Community.
-Many Traders use the COT Data Incorrectly.
-Jake Discovered if You Look at the Net Commercials and Take Note When Commercials net Buying is Either At All Time Highs, Or Net Buying = Longest Period of Buying Look for an Extreme Move To the Upside.
-In The...
The J6 has returned to the scene of the crime and has kissed it good bye. A breach of the 8388 are and we will goto a lower time frame to look for a trigger. This will support higher equity prices.
This is a wave analysis of Yen Index. We are now at Final wave 5 which will be
more 11.01% declining to the Fib.61.8% ideal target: 0.7805.
Comparing with USD/JPY's target, these two should be correlated. Therefore USD/JPY
is also having the same 11.01% climbing space to its ideal top. Which means:
118.98 + (118.98-75.32) x 11.01%=123.79
Nikita FX (climbingfx.jugem.jp )
J6 Japanese Yen futures... neutral currently then long/bullish at $0.856. This represents support from 2007 and corresponds to resistance in DX DXY US Dollar Index.
YEN has bottomed in Oct2014 - TREND IS UP - buying at recent pullback and targeting next resistance by the 28 Oct2014. See related idea on the multi-year trend line.
