Japanese Yen has been in a daily downtrend for quite some time, however, recent prices show a breakout of this trend with a momentum shift. The price can still go down even more before going back up as the stochastic is still around 50 and hasn’t reached the oversold range yet. We can expect the price to go down and a good long would be around where the 1st green line is on the chart. If we break this zone, another long also looms at the bottom of this channel where the 2nd green line is. This would go down for a double bottom and then the price may go up which would result in a profitable long.



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