Bearish for now, but...
Updated
4H, Fibo retracement, XABCD, S/R, Stoch RSI/TSI and Median lines.
The Yen has been on a continuous downtrend, met with decent (40 some pips) but temporary bullish action. This has been perfect for intraday. I've earned a consistent $40 - $80 for the past two weeks simply riding the waves.
There's plenty of room for the bears to move down still, however, selling is slowly but surely dying out. The direction of the median lines indicate further downward movement - be advised: it's about to reach a huge support area. If it breaks through the 1st support chances are, you can catch some lunch money... Don't forget your stop losses though, as it may simply flip on you anytime now.
RSI and TSI are losing steam seemingly.
The Yen has been on a continuous downtrend, met with decent (40 some pips) but temporary bullish action. This has been perfect for intraday. I've earned a consistent $40 - $80 for the past two weeks simply riding the waves.
There's plenty of room for the bears to move down still, however, selling is slowly but surely dying out. The direction of the median lines indicate further downward movement - be advised: it's about to reach a huge support area. If it breaks through the 1st support chances are, you can catch some lunch money... Don't forget your stop losses though, as it may simply flip on you anytime now.
RSI and TSI are losing steam seemingly.
Note
UPDATE: Keep your eyes on the TSI and Stochastic.Note
Turns out I missed out on about 20 pips this morning. No worries - patience is a virtue.Note
It you had your stop losses set, you might've had a good lunch today. (I sure did.) Check out that upward movement! Good trading, everyone.
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