Yen Squeeze

The Dollar Yen is coming into a squeeze but more importantly it is at a resistance and the figure today. Price has attempted to break the resistance in the last two trading days but with no joy.

MACD is diverging and Stochastics is overbought showing shorting opportunities. The flip side is the price can continue towards the next resistance level (shown on chart).

A trading opportunity is available but a filter should be used.


Chart courtesy of Advanced GET. Data provided by eSignal.

Forex Analysts
Javid Shaik & Anne Chapman