Peter Brandt Yen Bottoming
The Japanese Yen is a textbook charting market, as shown by the monthly graph. The Japanese Central Bank (BOJ) has thrown everything including the kitchen sink at the forex market in an attempt to cheapen the Yen. Yet, the Yen is displaying a near-perfect H&S bottom pattern on the weekly graph (red box). A decisive close above .008700 will complete this bottom and establish an uptrend in the Yen.
http://www.peterlbrandt.com/why-donald-trump-does-not-have-a-clue-about-the-chinese-yuan/
My comment:
If the Yen is indeed bottoming it means the Bank Of Japan has no more firepower and all those carry trades must unwind. Going to be a heck of a spring in the markets.