Dollar against the yen, USDJPY is the code.
The yen has been down for years but the last several months a bottom has been built and in September the final low was taken, see the chart. Since then an uptrend has started in 5 waves telling me that a longer uptrend is probable, but first a correction must occur. The daily 8 MA is down so a test of the sharply rising 21 and 34 MA:s could be the target for a correction and a buying opportunity.
The yen has been down for years but the last several months a bottom has been built and in September the final low was taken, see the chart. Since then an uptrend has started in 5 waves telling me that a longer uptrend is probable, but first a correction must occur. The daily 8 MA is down so a test of the sharply rising 21 and 34 MA:s could be the target for a correction and a buying opportunity.
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