JPY- long term !!

[modi]

Hi Ronnimar,
The first chart indeed could be ABC movement. However in my opinion the structure of your wave (B) should be labeled in a different way. This will not change in any way the bigger picture but in case you have a double corrective combination the second wave a of it is not acceptable to end so high. I mean that if you have a double combination down the second wave a should make new low below the end of the first wave c...it is natural for such kind of pattern


Regards

[marketwavez]

Japaneese Yen -

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Long ger Term -

[marketwavez]

YEN.............................

Shorter-Term
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[hermittrader01]

A look at usd/yen with the Ichimoku charting with MACD. A bearish divergence can be found from the MACD indicators, this is futher enhanced by the price diverging to a higher high in usd/yen.

On the technical side, ichimoku charting itself, it is signalling a long in usd/yen, with the MACD indicator, taking a long position in usd/yen might not be in the best option to choose from.

On seasonality, it is favourable to go long on the jpy till end August/early September.

Strategy:
Favour: a short USD/YEN
To note: no rally in oil prices, boost in Japan consumers' spending, economics news to the US.
Key levels: For Short - 115.90, 114.97. For Long 117.85


Regards,
HT
HT BLOG

[ronnimar]

maybe ?
i guess time will tell.

[ronnimar]

it look's like the break out. may take the jpy toward 120.00

[modi]

Continuation of the rise is very possible

[interesting]

alas but up-move has ended today
it's going to test 115.35/20 next week
113.4 by the end of month