What information can we derive from JPY Index:
1. Yen is heading towards major swing low trendline. We notice price bounce 2 times in Jun 2020 & May 2021 and we predict it will follow the same pattern
2. From eWave perspective, Yen is in process to complete the final wave (wave 5)
3. It previously broke the correction process of subwave 1 & 2 and currently heading towards completing subwave 3
4. We predict price bounce from the trendline (end of subwave 3) and start making correction towards 61.8% fib level which the only nearest level that we can see to open or close our position
What is our bias:
JPY Bounce from trendline and hopefully gaining strength which turnout to be XXXJPY to Sell
1. Yen is heading towards major swing low trendline. We notice price bounce 2 times in Jun 2020 & May 2021 and we predict it will follow the same pattern
2. From eWave perspective, Yen is in process to complete the final wave (wave 5)
3. It previously broke the correction process of subwave 1 & 2 and currently heading towards completing subwave 3
4. We predict price bounce from the trendline (end of subwave 3) and start making correction towards 61.8% fib level which the only nearest level that we can see to open or close our position
What is our bias:
JPY Bounce from trendline and hopefully gaining strength which turnout to be XXXJPY to Sell
