Yen has been in a rather bearish mode since the abandoned baby formation that formed a few months ago, I see a potential bullish correction in the week ahead. but leave some expectations for a break below t the current support zone back into the downward move.
Expecting one more leg to the downside before JPY gains strength.
Yen has always been a safe haven in uncertain markets.
By next week = (XXX/JPY) should see \ bearish action (Generally) | Due to its gain in strength. Keep an eye on JPY pairs.
Main key: MACD
Key 1: Price leaves the Bolliger
Key 2: Slop of MACD
Key 3: Expecting to return the price channel
* Target 8/4 is calculated by Elliot rule.
* Note: RSI signal is maybe he will retest Bottom or New Bottom.