Yen. Image Source: Pixabay
The Japanese Yen currency has been in a strong selloff for the past 12+ years.
Today, we ask: Could the Yen finally be bottoming?
As you can see on the long-term “monthly” chart of the Japanese Yen below, the currency needs some bulls.
The latest selloff has the Yen testing its 30-year lows. However, the current formation is a bullish falling wedge that gains support from a bullish rising RSI divergence.
The most important thing to note is that a breakout at (1) would be short-term bullish…
with implications that could spread to the longer term.
(Click on image to enlarge)
More By This Author:
Copper Price Peak Signal Suggests Lower Interest Rates Ahead
Gold Bullish Indicator Breaking Out To New Highs
Are Semiconductor Stocks Nearing An Inflection Point?
Comments
Log in or sign up to join the conversation.