The other way of looking at the Yen

Good Afternoon Dynamic Traders,

I hope you all had a great week and managed to secure lots of profits. If you didn’t remember, practice makes perfect. I stayed out of the markets today due to the NFP.

On my update on Wednesday I said there was another way to look at the Yen rather than the way I have been updating. So far I have been updating about price being in a bullish flag, meaning that price would have to have done a reversal at 88.00 (which is still possible). The other way of looking at this chart is that price is could actually be in a bearish flag.

If you look at the day chart below you will see that price has been in a downtrend and rather reversing, price could potentially be performing a breather. When price climbed to and slightly above 92.00 and stopped, it had arrived at a breather level. You can see that we are currently experiencing some oscillation, which is normal after price has made a large drop.













What do you think is happening?

Next time I will run through how we can prepare ourselves for next week.

I hope you all have a great weekend.

Carpe Diem

Richard Monnery