YEN | Long Term

28 Eyl 2022

Weak Yen is hurting the Japanese economy with increase foreign demand and import to Japan became more expensive, look at the below announcements

JAPAN TOP CURRENCY DIPLOMAT KANDA: AGREED AT MEETING ON NEED TO WATCH MARKETS WITH STRONG SENSE OF URGENCY
JAPAN'S KANDA: RECENTLY SEEING SPECULATIVE, ONE-SIDED RAPID YEN MOVES
JAPAN'S KANDA: RECENT YEN FALLS CANNOT BE JUSTIFIED BASED ON FUNDAMENTALS
11:25
JAPAN'S KANDA: WON'T RULE OUT ANY STEP, READY TO TAKE ACTION IN FX MARKET
11:25
JAPAN'S KANDA: GOVT, BOJ IS EXTREMELY WORRIED ABOUT RECENT YEN MOVES


The current price is at a critical point where there is a supply area, Harmonic, ABC correction wave HTF and a channel.

I am anticipating the price to continue to increase but in correction manner and then the big fall start.

26 Eki 2022

Not

First Update:

The price reached the zone that we are supposed to look for short at, the price reacted directly and now shown a strong down movement, USDJPY formed an SFP, the ideal situation is as the followings (1- we wait for the price to close, 2- place SL above monthly ATR, 3- look for entry place and preferably near the monthly close or above, 4- Take profit should be near to monthly support)

14 Ara 2022

Not

Update 2:


The pair is moving as expected from it. Details will be covered in later update.

15 Oca 2023

Not

This legendary move is still going as expected from the price I have entered until now around 1,700 pips.