The Yen is on the hinge at the red arrow. Given the upthrust, the clearly defined lower top after the upthrust, the way to bet is that the red line is at least tested.
9 across the 150 line gives a target of 150-9=141.
This is 5-6 month distribution range. Conservatively 7 across the 166 line gives a target of 159.12 across the 165 gives 153. 45 across the 165 line gives 120. I am wagering you will see it.
While I have not put up the Canadian dollar, there is no arguing with the implications of these charts for a dollar rally. We have discussed many times the carry trade and its effect on markets and the dollar. It has now become a media cliche.
