Short trade recommended with a take profit of 130.000
Fibonacci Retracement at 0.382 struggling to break through the past 10+ days to the 0.5 retracement level.
The real test of this trade once reached is the 132.500 level which has proven extremely difficult to break over the past 10 days.
The upside today was based on a wave of fundamental news (Postive) and strong index performance across the globe seeing between 5% - 8% gains across the globe weakened the YEN. The evening seen a snap downwards due to minister being admitted to ICU.
I expect to see downside in Asian session tonight (Provided no positive news moving futures upwards).
Fibonacci Retracement at 0.382 struggling to break through the past 10+ days to the 0.5 retracement level.
The real test of this trade once reached is the 132.500 level which has proven extremely difficult to break over the past 10 days.
The upside today was based on a wave of fundamental news (Postive) and strong index performance across the globe seeing between 5% - 8% gains across the globe weakened the YEN. The evening seen a snap downwards due to minister being admitted to ICU.
I expect to see downside in Asian session tonight (Provided no positive news moving futures upwards).