Here is the Weekly chart. Levels taken from last week's inverse hammer p/a. TA101 a cool multi-divergence in both RSI & MACD, price has been locked within some sort of a wedge/ascending tri/rounding top type formation. Who will win, technicals or will Dollar weaken further and catapult Gold...
Will post stats later this weekend. Happy to report that after 12 months this strategy has generated over 108% ROI. One trade still open, as I don't know when I will close it & also the fact that it is now held against the rules of this strategy I will transfer it to next 12 months or exclude it...
Which way will the yen go when the range breaks?
By Jamie Chisholm
<img src=http://media.ft.com/cms/ab27648e-1f34-11e0-8c1c-00144feab49a.gif>
The yen/dollar cross has been stuck in an unusually tight range between Y80.50 and Y84.50 for nearly four months. The longer such stasis continues...
84.5 is a major line in the sand, whoever is in charge of this Matrix is not letting this zone be taken out. I personally go with Monthly turn of 1995 Low which had been double tagged, not to the pip, nevertheless very close.