USDJPY. Global map. Huge risk aversion is ahead
Updated
Yen is in demand when something terrible happens with the world, at least financial.
This chart shows that we are on the edge. Don't blame Trump, he is not in yet )))
Green rectangle shows the area of potential reversal down where the green (c) of X = 1.618-2 of green (a).
White falling trendline shows the maximum dollar strength area.
Downside targets within the 61.8-78.6% Fib of the major upside move.
Usually 78.6% has been hit as it's a large ABC.
This chart shows that we are on the edge. Don't blame Trump, he is not in yet )))
Green rectangle shows the area of potential reversal down where the green (c) of X = 1.618-2 of green (a).
White falling trendline shows the maximum dollar strength area.
Downside targets within the 61.8-78.6% Fib of the major upside move.
Usually 78.6% has been hit as it's a large ABC.
Comment
Just made a mega-zoom using IDC chart data - 60???Does anyone see it this way long term? Comments are highly appreciated friends.
Comment
2 possible labels I seeFirst - Ending diagonal
Second - standard 5
Anyway MACD (subchart) shows we are somewhere close to an end.
Comment
Update. 3H chartBaby one more time )))
Comment
Update 3H charteither white or green labaels
invalidation area is in red
Comment
Update 1H chart
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.