Well, looks like the Bulls have had their fun. Time for the Bears to come out and play. If you read my previous post, I said that it couldn’t remain up there for so long. Peaked at 119.126, and slowly coming down. Completion of the Head and Shoulders coming up? I feel a pullback to at least 117.736 then a retest at 118.325, then strap in for the wave down back to...
Since the recent market expansion on USDJPY we have seen a fake breakout reaching a high of 118.452 and it has been up and down since it reached this point. With a more than likely rate hike on the way from The Fed, and optimistic news from the Bank of Japan. I think we could see a return to about 115.500 level at least. I speculate that this is a situation that...