2nd day following the Yen

Morning Dynamic Traders.

Tuesday was a very good day for the Yen, so let’s find out why!

As you can see from the day chart below price was still increasing and yesterday we had a big green candle.

Below is an hour chart, I have marked out Tuesday to show how much of an increase the Yen had on the second day of the week.

You will notice that price has been in an uptrend and then started to come back down. At this point you can see that we have convergence from the MACD, and then an increase in price which is why we had large move up.

I’m looking forward tomorrow to finding out what the Yen does today, to see if it continues to increase or if price begins to weaken.

Happy trading.