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$/yen, a major topping?

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    $/yen near term outlook: No change in the bigger picture view that the surge from the Oct 15th low at 118.05 is part of a larger topping, and versus the start of a more major, new upleg. Note that the Oct 15th low at 118.05 is seen completing the 5 wave decline from the June 5th high at 125.85 and suggests that the larger downside from that June high is not "complete". But this decline lasted over 4 months and raises the risk of a more extended period of wide ranging/topping (few more months)

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