The Japanese government interventions have had injection type effects but then the trend has prevailed. This week’s intervention looks to be no exception. That being said the rise and rise in the value of the yen must hit an upper limit and swing.
From the 10350 low to the 12200 high there is a 3 wave movement, either wave 1/2/3 of an upward impulse or wave A/B/C of an upward zigzag.
So now you asking yourself why I should trade FX and the answer is simple; because you can! The FX market is the only financial market that you can trade 24/6, for a reasonably small investment, and profit almost instantly!
I have been focusing on gold a lot lately and as I write my target of $1280 has been surpassed. It will get to $1300 but my T/P level at $1280 banks profits before that emotional resistance.
Thanks to all those who alerted me on Friday afternoon as to how 100% wrong my reading of the situation was. Over the weekend I dwelt on the gold a little and have to make the comment that as an instrument it is not unusual at all to see daily...