As we can see on the chart Yen is very strong against Dollar ever since May and earlier. Price is currently in consolidation and it is possible for A-B-C flat correction beofre another impulse to down side or Zig-Zag correction if Dollar gets stronger. Updates on lower time frame.
Note
Lower time frame shows down presurre. Possible harmonic move. Note
Price lost momentum to down side which could indicates change in corrective pattern. In this case price is most likely forming Zig-Zag correction. Note
4 hour chart gives better perspective and better look of what is structure doing like pieces of the puzzle. Note
Fundamentals... Still it was around 350 pip move on break out of contracting triangleNote
Price completed Expanded Flat Correction now we should see down move with short opportunities.Note
More sell opportunity.
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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.