Following a new currency

Good Morning Dynamic Traders,

I have decided follow the Yen this week, so let’s start off by having a quick review of what has been happening.
From looking at the day chart below you can see that the Yen has been enjoying some action around the VI. Price is currently looking at getting stronger, but will this last. We also appear to have a head n Shoulder formation forming which could prove to be interesting a bit later in the week.
One of the first things that I noticed is that price has changed directions at RN with I have marked on the chart below. This is of course an indication of how the Yen will behave later, be sure to keep this mind.














This leaves us asking the question, what will Yen do next?
Stay posted this week to find out.

Happy Trading

Richard Monnery