Forex analytics and overview
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.
