A week of the Yen

Morning Dynamic Traders.

Hope you had a good weekend.

On Friday the Yen dropped in price. Below I have posted an hour chart and you can see from the chart that we have divergence on the MACD and price was close to a RN, which explains why price decided to change direction.















I’m now going to summarise the behaviour of the Yen. It’s been quite an exciting week following the Yen, partly because I had a trade open throughout the week. Last week we saw the Yen start the week with a very impressive climb. This increase in price although continued it did begin to slow, and then at the end of the week price began to look the other way and dropped, which it is currently doing now.
This was a fairly easy trade to manage as there was a steady increase in price, the signs that I spoke about on my last update were the warning signals that we should have been looking for to assist in trade management.

I hope my updates over the week on the Yen have helped you to know what to look for and how to manage a trade when a currency has decided to perform a reversal.

Tomorrow I will be following a different currency pair, to see what else we can learn.

Happy trading.