We're looking at how the upcoming currency moves might play out for the Japanese Yen and the related ETF.
I have reworked my EW count in the Yen to be that of a triangle wave [iv] that needs one more wave up in (e) to complete. The alternate is that wave [iv] was set early this year and prices are set to bounce in wave (ii) of an ending diagonal [v].
Price is putting stress on a supportive trend line, forcing a squeeze between support and resistance.
The yen has been moving up the first part of this year as expected but should be nearing an inflection either in May or June. The ideal cycle high is in June but we need to be alert for a high...
April bulletin from Trading On The Mark
March 2017 bulletin from Trading On The Mark
Yen had followed the expected path lower late last year. It now appears to be trying to work up the low late last year following an upswing in the dominant monthly cycle which should take the yen...