Browsing: Jpy

There has been a lot of noise recently about the strengthening Yen. On Friday, the currency pair has closed marginally…

The Sterling Yen cross has been a big mover in recent weeks, because not only the Pound got thrashed, but the Yen also strengthened simultaneously. Naturally, traders hop on board any trend that is clear! Here is you chart on Sterling Yen (GBP/JPY) with Elliot wave counts and comments

Anyone who has traded the Yen knows that it is a different animal from the rest of the pack. But there is one undeniable fact about this currency, it is a trending currency. Once it sets off on a trend, it stays with that trend for a long time.

Sooner or later we are going to get a corrective bounce in USD/YEN. But the downtrend is still strong and we should be willing to try shorts at key levels. If we surge higher today, then you can sell above 101.70 with stops at 101.88.