Yen
San Francisco Monedge 16:35 GMT 11/29/2023
Eur/Jpy and Usd/Jpy are remaining short to this point after entering the session bid. Our algorithm model employs a series of primarily momentum driven factors and ultimately spits out a number. Currently the number is 42%, which is solidly selling after peaking around 70%.
Eventually we should see buying as it nears lower percentages. We prefer momentum vs level picking, which is also important of course. So far today the cycles have been very predictive.
Bottom line stay short for now until a bit later.
