Japanese Yen: August Close Could Set the Stage for a Major Directional Move

2024.08.20 03:48

We discussed the prospect of a low on the currency several weeks ago.

You can see the original chart below.

The Japanese Yen did rally off important price support and many assets worldwide got a little goofy, the blasted off while the dropped more than 20% in a day.

But, at mid-month, the Yen created a monster bearish reversal pattern after testing important price resistance.

Where the Yen ends the month would be critical for the next direction.

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