support sign pic

The US Dollar/Yen is facing a trio of potential support lines at this time with few people bullish the US$/Yen at Stocktwits. What happens at this potential support zone, could well impact the Risk On trade from now until year end.

us dollar yen testing triple support with few bulls aug 30


The trend in the US$/Yen remains down for the past few months, as the YEN has been stronger than the US$. The US$/YEN remains inside of a steep falling channel over the past 10-months.

The bottom of this steep falling channel and two other lines come into play as a support test at (1), as momentum is reaching oversold levels. 

If support would happen to hold and resistance happens to get taken out at (2), it could surprise a few investors, as few are bullish the US$/Yen at this time.

What happens at support zone (1), could have a large impact on the currency and stock markets going forward!




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