Struggle on the Yen

Good Morning Dynamic Traders,

Hope you all had a great weekend. Fingers crossed that the worse of the weather is over now.

I think this might be the last update on the Yen as there isn't too much to report. You will see from the day chart below that price is really struggling to beat the VI, which doesn’t really come as a surprise. It is because of this I have decided to maybe leave the Yen and follow another currency, as we don’t have an entry anytime soon.













For those of you that may look at the Yen for a trade, patience will be important. As always it depends on what kind of trader you are and also what strategy you plan on using. For the more conservative trader a short position would only look favourable if price was too break below the pivot low marked on the day chart above. A long position would only look good once price has performed a break above the VI.

As always make sure you carry out your own analysis.

Happy Trading

Richard Monnery