Will the Yen, beat the Value Index

Good morning dynamic traders,

Bit of a dull start to the day with a little rain, but not looking too good for the weekend either, but hopefully the weather will hold up as I will be attending the Epsom Derby on Saturday.

Yesterday we were left wondering if the Yen would be able to beat the Value Index. You can see from the 4 hour chart below that price has had another go and with a little more success this time. Price is currently above the VI on the 4 hour chart, but if you look at the day it is still trying to break and close above the line.















What I find more interesting about Yen is the head ‘n’ shoulder on the day chart that I pointed out earlier this week. With this reversal formation I was expecting price to fall a lot more than it has done, but instead it has found some strength.
If price does manage to beat the Value Index We could expect to see price get a lot stronger.

Happy Trading

Richard Monnery