- Analyzing the recent change in sentiment due to US data cooling and the collapse of SVB.
- Pullback Target: Anchored VWAP at 0.382 Fib level at 0.0074 and the gap formed on March 10th, with a target area between 0.00735 and 0.00745.
Quick Update
Last time we looked at Yen futures was back on March 2nd. The sentiment has drastically changed since then as US data has cooled and the collapse of SVB.
Bulls have enjoyed the recent rally, but the steam is running out, and those who have missed the initial move may see another opportunity soon enough.
The pullback
There are three things that I am looking at with regard to the pullback target area bulls could begin accumulating. Bears could also begin shorting, looking at the pullback target at an area to reverse the position. The first is the anchored VWAP which is trading on the 0.382 Fib level at 0.0074. The second is the gap that was formed on March 10th. The pullback target area is between 0.00735 and 0.00745.
