An upward consolidation after the Monday's fall failed and we are now moving down and are lower then the lowest close of the estimated bottom.
... of the MA the upward gap of the rate failed to be closed whereas the Fibanacci retracement has been completed to the 50 % level. This is a good chance for a start of the rise due from here.
We failed to fall below the MA and may see a renewed attempt to rise now.
Following the overall picture it seems to be worth to buy some dollars against yen as well.
The attempt to correct deciesively downward failed and the price is back on the path upward.
The forme downswing has been more than retraced and the MA has been penetrated by far.
The repeated break above the the falling trendline means that the rise above it 2 trading days before has been confirmed.
The downtrend is intact and the present retacement confirms it.
Te blue rising trendline may be considered as an important support that might hold finally.
Yesterday the price finally fell back below the resistance line after some successless attempts to overcome it. It had backtested it then and is falling now again.
In a downward channel we fell below the MA.
We are struggling around the cloud very close to a support. If this would be broken, the of course...
We are in the upper range of the upward channel and have not seen higher highs lately. As we are facing a long term falling trend line I am expecting a downward correction from here.
The trend has changed at the end of August and has regulary retraced since. No that there has been no new attempt of a correction after the move down since 24th September it may be asumed that a new momentum within the downtrend will be developing.
We have left the channel and at the time being there seems no pressure up.
We are back in the medium term downtrend and as it seems we will follow it further because of the failure to even retrace upward.
Some hours ago it seemed as like if the bottom has been found but now we can see another decline.