The Yen Crash Could be Finally Over.
The Yen index trades at a really interesting level as we head into the BoJ rates decision.
We're trading at the 1.61 extension of the previous bull trap.
This is a big make or break level. A lot of consideration does have to be given towards the bear break. In a bear break the 1.61 hits. 1.27 often retests and then the 1.61 break.
If that happens, Yen can capitulate hard. Very important risk to be aware of.
However, if the 1.61 holds as support we might see a mean reversion move in this.
Mean reversion move in the Yen index after this prolonged downtrend would spell sensational crash moves in XXXJPY.
Very interesting decision to make in this zone. I think it sets the tone for the trend to either side.
Lot of epic trade setups in the XXXJPY pairs in the event it's a Yen reversal.
We're trading at the 1.61 extension of the previous bull trap.
This is a big make or break level. A lot of consideration does have to be given towards the bear break. In a bear break the 1.61 hits. 1.27 often retests and then the 1.61 break.
If that happens, Yen can capitulate hard. Very important risk to be aware of.
However, if the 1.61 holds as support we might see a mean reversion move in this.
Mean reversion move in the Yen index after this prolonged downtrend would spell sensational crash moves in XXXJPY.
Very interesting decision to make in this zone. I think it sets the tone for the trend to either side.
Lot of epic trade setups in the XXXJPY pairs in the event it's a Yen reversal.
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