A trend remains a trend until a reversal – while a double bottom is a sign of a reversal, a higher high definitely seals the deal. The Yen pairs are sitting at what could be a bottom as we head into the last few days of Feb – when are bears going to take profit?

With Dollar significantly overbought and at resistance perhaps some Dollar weakness up ahead and risk off tone? With Yen repatriation in March as we head into April, the Yen pairs might not rally though one could be short-term long and then look to dump them higher up with new monthly pivot points in March?

Dollar Index

Price is currently at the resistance level Dollar came down from post CPI. The 200 is currently resistance. H4 is overbought though has not crossed down into the trade zone. A break above this resistance see's MM3 as the next level of resistance which marks the top of the range.

S&P500

Note the daily is overbought and has crossed down into the trade zone. Price is in the weekly buy zone with WPP as resistance. If we want risk on then price needs to break through resistance. If bears sell here and price heads down to a lower level of support then that's risk off.

NK225

The daily is approaching overbought though still bullish. Price is at support of the double bottom though we have resistance up ahead. For risk off price needs to break the resistance. If price comes down off that resistance to a lower support, risk off.

AUDJPY H4

55 predicts a double bottom

NZDJPY H4

Support at 78.50 has been holding for the entire week. The MA's are flat and price is heading down to oversold.

CADJPY H4

Wayne spoke about this pair yesterday. Specifically a double bottom at WM2. Price has not come down off the 55 and the 21 is still in control though no lower lows.

EURJPY H4

55 predicts a double bottom

GBPJPY H4

55 predicts a double bottom. Price could still head down to 148.000.

2 thoughts on “Have the Yen pairs found a bottom?”

  1. This is very detailed analysis I cant find the thumbs up button but wanted to say thank you for all you do

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