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Good Morning Dynamic Traders,
I had a taken a break from trading and work for the festive period and I am now back at both work and trading.
My last update last year (which sounds like a long time ago, but was only a couple of weeks ago) was on the Yen. You may remember that I said that price had tagged the top trend line. You will see from the day chart below that price has actually broken through and out of the channel that I was referring to in my last update. However this is not an indication that price has completed a reversal. Price is in close proximity to the VI, and you will notice from the day below that the VI has acted like resistance.
A long position wouldn’t be favourable until after price has broken above the VI.
Happy Trading
Richard Monnery
I had a taken a break from trading and work for the festive period and I am now back at both work and trading.
My last update last year (which sounds like a long time ago, but was only a couple of weeks ago) was on the Yen. You may remember that I said that price had tagged the top trend line. You will see from the day chart below that price has actually broken through and out of the channel that I was referring to in my last update. However this is not an indication that price has completed a reversal. Price is in close proximity to the VI, and you will notice from the day below that the VI has acted like resistance.
A long position wouldn’t be favourable until after price has broken above the VI.
Happy Trading
Richard Monnery
Labels: YEN
posted by Richard Monnery @ 08:10
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