I'm not advocating shorting in front of the weak yen freight train. But if you happen to be long, you might consider lightening up if prices continue to stall at 108.60 (ORANGE). Aggressive types can entertain shorts with tight ~25-30 pip stops. If we see a break lower, the obvious attraction lower is 107.87 (GREEN) and 107.65 (PURPLE).
Aspen S/R's in action.
Aspen S/R's in action.
Comment:
Damn, 106.81 was nearly tagged, the low was 107.09!
I'm still expecting 106.81 to give way in the days/weeks ahead.
I'm still expecting 106.81 to give way in the days/weeks ahead.
S/R's in action and keeping things objective.