Japanese Yen (6J Futures Contract) show that we are at lowest level since 2009.

japanese yen

As you can see, we have a very nice buyers resistance at 0.010070. will 6J keep losing value in long term? Can’t tell you, but what I can , it is a great opportunity to trade 6J.

What I’m Looking for now ,is buyers taking this opportunity to bounce at this level, and retest Sellers Support.

japanese yen

Since, most of the time Sellers was in Total Control, I suggest to trade Yen on very short time-frame. For now I will use 60minutes chart.

After Buyers showing some good momentum to keep moving Long, I’m looking to see buyers take a break, and let sellers bring price at 0.010130 – 0.010110 . At this level , we should have a nice trade Long. My targets will be 0.010148,MA50 and my 2 Red line.

To take trade long, sellers should not close under any of my green trend line.