💸 DOLLAR-YEN - Week 5 of the base cycle

 ðŸ’¸ DOLLAR-YEN - Week 5 of the base cycle (25 weeks on average), which began on August 5 at the predicted Mercury retrograde (https://t.me/jointradeview/116). The dollar-yen pair is at the end of a 4-year cycle, see the April post (https://t.me/jointradeview/52).

⚠️ Last week (https://t.me/jointradeview/213) I wrote that the dollar-yen pair formed a semblance of a double bottom. This week, the dollar-yen pair drew a full-fledged double bottom at the level of the beginning of the base cycle. Support for the end of December 2023 is approximately at this level. If we break through these levels downwards, the current base cycle will be bearish.

☝️ There is no signal of the end of the 4-year cycle yet. If the bearish base cycle is confirmed, the end of the 4-year cycle could be very intense (see chart in April post (https://t.me/jointradeview/52)).

👉 See also review and forecast 2.9-6.9 for S&P (https://t.me/jointradeview/220), gold (https://t.me/jointradeview/222) and oil (https://t.me/jointradeview/223).

#yen


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