Yen Technical Outlook
The entire advance from 95.72 has now retraced 50% of the drop from 124.13. The rally from 95.72 is clearly NOT impulsive as well. Both of these points indicate the likelihood of an amazing shorting opportunity against 124.13, eventually.
When will the corrective advance from 95.72 end though? The second leg of the correction would equal the first leg of the correction at 116.61, which is just below the 78.6% of 124.13-95.72 at 118.05. An area before that which could produce a top would be the 61.8% at 113.28. Shorter term, there are 5 waves up from 108.12 to 110.28. A correction of that rally should find support near 109 (61.8%).
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Linear Mode
