FXY, around the world in 2723 days
According to my post two months ago, my short was triggered at 85.49 due to the gap down.
I extended my red channel much deeper to find out where my target will be roughly and estimated to be around 81-82. And it did. I exited at 81.19 which is also the price that i will turn bullish.
So Yen trust has revisited previous support after 2723 days in outer space. And price temporarily broke below previous support of 80.61
Though the week is not done yet, i am anticipation of bulish divergence from MACD to have some retracement move.
Just before i get too exited about catching a bottom, the price is still in RED downtrend. and MACD is squeezing both MACD into a piercing triangle. At the same time i extend two additional downtrend line to remind myself where the potential resistance could be for exit.
This will certainly have effect on USDJPY pair especially.
I extended my red channel much deeper to find out where my target will be roughly and estimated to be around 81-82. And it did. I exited at 81.19 which is also the price that i will turn bullish.
So Yen trust has revisited previous support after 2723 days in outer space. And price temporarily broke below previous support of 80.61
Though the week is not done yet, i am anticipation of bulish divergence from MACD to have some retracement move.
Just before i get too exited about catching a bottom, the price is still in RED downtrend. and MACD is squeezing both MACD into a piercing triangle. At the same time i extend two additional downtrend line to remind myself where the potential resistance could be for exit.
This will certainly have effect on USDJPY pair especially.
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