Long-term target based on the latest BoJ interest rate hike and signs of a positive outlook for Japan's economy. Technically the pair is scraping around .618 FIBO level which is 195ish - there's still some room to hit the level.
1st target = 170 (0.382 FIB)
2nd target = 160 (156-157 - resistance/support of the past price action).
1st target = 170 (0.382 FIB)
2nd target = 160 (156-157 - resistance/support of the past price action).
Kommentera:
A closer look on Weekly. GJ took it higher latest high (Jun '15) as .618 FIB sits around strong figure of 200.
Kommentera:
198-200 proved to be a point sellers were looking forward to.
Looking at a Daily timeframe, 200EMA was hit once and I expect it to be a next support on the cable-yen's way lower.
Looking at a Daily timeframe, 200EMA was hit once and I expect it to be a next support on the cable-yen's way lower.