Slow and steady wins the race

24 באוק׳ 2018

The Yen a.k.a "the" safe haven investment has seen sum nice rallies this year. So whipping out the Fibonacci we can see that from our swing high October 3 we had a high of 114.52. We are at around 38% retracement of that price so we should expect to see a bearish push since it has held very nicely as a resistance. The Rsi as of this writing was nearing the 50% area and the Yen is above its 65 day (blue line) moving average. Look for sum tests of the 112.73 area before a breakout to the golden 61.8% range