(Click on the attached Daily chart to enlarge it)
Last week was one of the most significant moves the Yen had in years: almost 500 pips...
Due to that, some Bearish correction is expected this week....
Prices definitely got back into this major Bearish Channel, favouring the Bulls untl prices ht its top/upper trendline. But riding this trend along won´t be an easy task...again, some correction is expected...
I´ll enter LONG at the following Supports:
* 90.22 (Monthly Pivot R1)...
* Fibo retracements from Last Black Friday´s Bullish move 88.31 to 90.77: 89.83 (38%), 89.54 (50%) and 89.25 (62%)...
* 89.20 (Low of Nov 01st) ...
I´ll watch out for any move below this level 89.20, that would negate the current Bullish momentum...
It´s also important to mention that I´ll try to Day-Trade SHORTS with these Fibo Retracements as LIMITS, specially if a Double-Top is formed at 90.77, at 91.32 or if prices are below 90.22 (Monthly Pivot R1...).
