Yen… when are you heading to a hundred and ten?

Yen… when are you heading to a hundred and ten?

Jaya Maheshwari
13 Nov 2019 05:31 PM
Technically, seeing the weekly chart, with an inverted head and shoulder pattern, with the blue left shoulder, red right shoulder and black head, the currency pair is indicating reversal of trend. The shoulder line close to 106.80 and neckline at 109.20, the chances of yen weakening towards 110.35 (orange horizontal line) initially and then possibly a 111.54 can be seen through the chart. But for that it has to convincingly cross 109.50.

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