JPY Futures chart shows the Yen is currently oversold, broke below falling wedge, approaching strong trend-line and horizontal support.
Watch for trend reversals across all JPY crosses. (Individual charts for Yen crosses show many pairs approaching Daily resistance zones)
Yen crosses tend to produce decent trend trade opportunities. The large impulsive move in August, shown on the chart, is a perfect example (Sudden shift to Risk Off sentiment, as S&P saw a sharp selloff) . AUD NZD CAD and even GBP (Risk currencies) would provide good short opportunities in a similar situation.
Higher time-frame charts show JPY trending higher, allowing us to trade with trend.
Watch for trend reversals across all JPY crosses. (Individual charts for Yen crosses show many pairs approaching Daily resistance zones)
Yen crosses tend to produce decent trend trade opportunities. The large impulsive move in August, shown on the chart, is a perfect example (Sudden shift to Risk Off sentiment, as S&P saw a sharp selloff) . AUD NZD CAD and even GBP (Risk currencies) would provide good short opportunities in a similar situation.
Higher time-frame charts show JPY trending higher, allowing us to trade with trend.
