More tendies to the downside for MMs,but be careful of fake out!
The dollar yen continues to trade in a range it formed since mid August, we are short on this pair but a fake out may happen to the upside before the downside targets can be achieved.
BEAR CASE
Price looks ready to dump down from here to reach our targets to the downside at 109 and 108.5
BULL CASE
We should not be surprised if market makers continue to hunt for stop losses to the upside faking out traders before taking a dump. If this happens, we see 110 and 110.4 as possible areas of resistance.
BEAR CASE
Price looks ready to dump down from here to reach our targets to the downside at 109 and 108.5
BULL CASE
We should not be surprised if market makers continue to hunt for stop losses to the upside faking out traders before taking a dump. If this happens, we see 110 and 110.4 as possible areas of resistance.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.