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Yen Crosses Break Lower – Aussie, Kiwi and Euro




Further to my post earlier in the week on Yen Strength (Yen crosses weak):

www.tradingbook.org/blog/yen-crosses-sud.../

- there has been excellent follow through.

Euro Yen was the first to Trigger, followed by Aussie Yen and then Kiwi Yen.

Tuesday’s US session drove these pairs down hard, and I added to my Aussie Yen position.

Here is the Aussie 8 Hour Yen chart. It has broken beautifully out of a broad top (if you invert the chart it would be a very nice base pattern):



 

(Click on the chart to enlarge).

Right now I am expecting more weakness in all three pairs. News, sentiment and everything else are irrelevant. I am a trend trader and the trend is currently DOWN.

Happy Trading

Oli Hille

Author

“Creating the Perfect Trade”

TradingBook.org



Disclosure: Short NZD Yen, AUD Yen and Euro Yen