The 12-day baseline remained bullish during the recent three-week descent, and last week, the 24-hour baseline turned bullish as well. Given that I am looking at a green hourly candlestick after having observed price testing the 16-hour temporal support level, and given that the 24-hour temporal support level is not far below at 108.71, I am hoping the U.S. dollar-Yen will now continue climbing back up to my take-profit target at 109.62.
That should interest you
What does the data mean to the market?
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes…
The U.S. dollar-Yen is in the lower region of its 6-hour and 16-hour price ranges and is rising above the 2- and 4-hour baselines, which gives me reason to suspect the rate will continue climbing above 109.57.