With Russia/Ukraine weighing in on the markets, the Yen is one of the obvious safe havens in a risk off environment. But with easy money policy, its been getting weaker and weaker, which makes one wonder if this recent move to the upside is a change of trend or just a retracement.
Oscillators don't give out much clues. But if we look to the past, we see a short entry example. If the trend were followed, stops would be trailed to 0.9959. If this is taken out and price finds support (meaning: breaking the EMA + a support point) could mean a possible push higher. (So it would make sense to wait for a retest on the MA before taking longs).
Alternatively, the Yen could just continue pushing lower with the current rally being seen just as a mere retracement to the downtrend.
Oscillators don't give out much clues. But if we look to the past, we see a short entry example. If the trend were followed, stops would be trailed to 0.9959. If this is taken out and price finds support (meaning: breaking the EMA + a support point) could mean a possible push higher. (So it would make sense to wait for a retest on the MA before taking longs).
Alternatively, the Yen could just continue pushing lower with the current rally being seen just as a mere retracement to the downtrend.