Sunday 17 February 2013

Daily charts - Is the Yen down trend coming to an end

I have not posted for a while so I thought I would do a long term analysis based on the daily charts.  Looking at the Yen futures, I noticed a bar with the highest volume since this leg of the down move started, so this may spell the end of the current down move.  We may now get accumulation over the next few weeks and then a large up move. Look for the recent low to be tested with a possible fake break out. 

I have also analysed the Euro and DX charts, and it looks like the Euro is getting ready for a large fall, while the DX looks like we have had accumulation and it is now ready for a move up.  I have also analysed the ES and there are no reasons to think that the up trend will be ending any time soon. Look to buy on the dips at demand levels.

So if you trade FX, look to shorting the EUR/JPN cross pair for a large down move.

Here are the charts.



 


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