The Candle prior to the latest bounced from the siginificant psychological support at 100.000, and the most recent candle appears to be forming a Harami. (see basic candlestick set ups).
Moving down to the oscillating indicators, the Yen seems to have reached a state of overextended strength inidicating a likely time for a reversal, while the Dollar and other currencies having weakened since the beginning of September.
Relative Strength (RSI) has also reversed direction and is heading out of oversold territory.
I am waiting for the current daily candle to close and will likely take a long position on monday.
Good luck, its like a jungle out there ;)
Oliver R Evans
Moving down to the oscillating indicators, the Yen seems to have reached a state of overextended strength inidicating a likely time for a reversal, while the Dollar and other currencies having weakened since the beginning of September.
Relative Strength (RSI) has also reversed direction and is heading out of oversold territory.
I am waiting for the current daily candle to close and will likely take a long position on monday.
Good luck, its like a jungle out there ;)
Oliver R Evans