Early multi degree impulse. Good news for bulls ofcouse, and there is more gas behind it by the looks of it. I am confident that we are going up on this one. I always say this, and I will say it again, nothing I say is financial advice. Think for yourselves! Fibonacci goals in green or purple, invalidation is in red. Fractals never lie and Fibonacci series shows...
I suggest a bearup strategy that is tick focused on profitable bidding on the negative correlations for the yen. That means when a wave reaches a low point, it buys and then sales at the positive burst over and over again. Though this has generally been a negative trading pair, there a shorts that are filled with positive correlations that can make this profitable...
Until the end of 2016, cheaper Japanese yen against Chinese yuan(aka renminbi) is very unlikely despite it's now out of the previous ascending trend channel.
On the other hand, I found a wedge on RSI which indicates that the price would not drop any time soon.
It's my first time posting chart on tradingview.com, leave me a comment if you have questions. Thank you!
This is a following-up of CNY/JPY's wedge breakdown. And now it breaks down thru
the triangle bottom line, too.
the target of wedge breakdown was already met. I am now concerned about the Gap Down
which is shown on this Chart.
As far as being below the triangle bottom line, CNY/JPY still goes further downward, however
be cautous with any movement of filling Gap...
As I had already mentioned that CNY/JPY has Fractal Chart correlation with USD/JPY.
As of this Chart, CNY/JPY had its wedge breakdown that would lead into the triangle breakdown,too.
The target of the triangle breakdown & the Big H&S target would be almost the same level (16 low ).
Therefore USD/JPY is also heading for the same direction into the deep...
