Our bullish analysis is a little controversial
(The alternative is for it to extend considerably higher after a retrace.)
Don’t get trapped
We’re cautiously watching for a pullback
Just ignore the shaky foundation
Yen appears to be accelerating lower after the minimal retrace made when I last updated this chart a few weeks ago. I’m assuming this is the early stages of (iii) of [v] or [c] down. Minor support being tested now at 0.008994 though I don’t think it will be very firm. Prefer lower targets at 0.008789 or 0.008643 before a more substantial bounce.
There are already preliminary signs of a breakout
Chart updated with additional supports
I’m going to use the weekly UNG chart for the big picture and then switch to the daily natural gas futures chart for the fine details.