Yen Time

Good Morning Dynamic Traders,

I have decided to follow the Yen for the next week. The Yen had a great start to the year with a big climb, but throughout the year the Yen has definitely been in a down trend. This leads us to ask the question
“will this down trend continue?”
The answer to this question right now is I don’t know. We will know more by the end of next week, which then might lead us to think about entering a trade.

Recently price has fallen to a Fib breather level and seems to be finding some strength. We are going to have to be patient, because price is currently in a down trend, but the strength that price has found means we have to wait before we enter a trade.













What do you think will happen? Is this just price oscillating before a further move down or has price reversed?

Hope you all have a great weekend.

Happy Trading

Richard Monnery