I have watched Sterling Yen go up the chart all day. I mentioned the Fib fan last night and i include above,a four hour chart of its uncanny ability to calculate support and resistance levels.
The four hour chart shows the $ yen is sitting on Fib support and that Gbp yen has broken initial support and is now sitting a major resistance point.
Every molecule of me wants to short the hell out of both of them.
Many years of doing battle against the Yen crosses advises strongly against this .
I am waiting for the start of the London session for a signal. Trading is a game of patience. In the http://www.whichwaytoday.com/ live trading room , Tom and I trade the shorter time frames so if you want action that is a good place to look. Its not practical to report those trades here as they would be over, before most would have seen or read the post.
I hope we get a good four hour trade tomorrow .
Have a great evening
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