What’s the Yen doing now?

Good Morning Dynamic Traders,

An awesome start to the day this morning, fingers crossed this whether continues on throughout the weekend!

Yesterday we saw the Yen enjoy a massive climb to the upside. You will see on both the day and 4 hour chart that price actually tagged the Value Index. It does seem however that price has run out of steam as price has stopped climbing. According to the day chart price is now dropping, so to get a better understanding I have posted the 4 hour chart below. As you can see price is currently oscillating, which could mean that price is having a breather.
If you hook out your Fib, you will see that price is currently at one of the two Fib Breather levels. Also pay attention to the signals coming from the studies as well, as the RSI is currently showing no signs of getting stronger.













Has price reversed, or is price just taking a breather?

Hope you have a great weekend

Happy Trading

Richard Monnery