Comments on the chart. A strong bounce off the lower boundary will invalidate this idea
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volatility was high today but price was persistently below the lower boundary. even if there is a retest of the lower boundary breakdown zone I am still bearish
CONNORS has a method which I used - Above 200 SMA and Below 5 SMA close with an RSI-2 90/10. The RSI-2 below 10 'could' then provide a bullish trend.
Olu
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@View4U, Thanks for your input. Just checked out a chart with your parameters on it. It is not flashing buy right now. However given the turmoil in the markets JPY should get stronger. Pack this with a currency that is weak then you have a potential for a big downside. A good break and close below the support line should get us going.