Yen looking bullish at key level

Orlando Gutierrez Learn 2 Trade

Yen Futures broke with the immediate bullish structure but the downside is capped by a big level and the POC of the volume of the last impulse .

The POC confluences with the 1.618% retracement of the last pullback and the 0.50 retracement of the entire move to the upside.

I see a possible leg down to retest the actual level and if this level holds and the continuation pattern breaks we should be looking for Yen longs.

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Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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