Yen’s Trading Range – Is It Accumulation Going On?

Dynamic trend: Turned up

Background: W1 – weak; D1 – weak

Phase: Accumulation


Yen Daily Trend

Yen Daily Trend


On the daily timeframe there was bullish activity (signs of accumulation). In point 1 there was “Selling Climax” on a very wide range and very high volume. In point 2 there was a “Test” with a high volume. The market is not ready for a long-term upward trend, as the volume in point 2 is high, and the «Test» has  failed, thus showing the weakness of the market. The accumulation continues.


Yen Hourly Range

Yen Hourly Range

On TF H1 in point 1 there was a “Shakeout”, followed by up-bar with a wide spread. The volumes were very high. Point 2 was the successful “No Supply” followed up bar that tells us that demand has overcome supply.


In point 3 it was a “No Supply “. This low volume in this spot, shows lack of the interest from the professionals to breakdown the low of the range.


Suggested Strategies

The end of the accumulation phase in the medium term should witness the breakdown of the level 101,150. At the moment, VSA is showing supply, and we may see a correction to the 100 level again, which may give a long opportunity. It’s important that the price doesn’t close below 100, as that would mean that prices will probably test the low at 99.5.


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