Might the US Dollar be the lesser of many evils? Adam Hewison tackles this question in his latest public video “The US Dollar and Japanese Yen (USD/JPY): What Does the Chart Show?”
Hewison shows multiple timeframe views of the currency cross and shows some of the latest trade signals and chart patterns that have set-up and then discusses what the possible direction of the pair going forward.
(Click the chart for a larger imaage - chart created by Corey with TradeStation)
Price has now crossed above the 20 and 50 day EMA, and these averages have now crossed ‘bullishly,’ setting up potential support. In addition, the 3/10 Oscillator has been hinting at a lengthy positive momentum divergence which is playing out now.
In text introducing his video, Adam writes:
“Here we are going to hell in a handbasket in the US, yet everybody wants to own dollars.”
“I have to say that the dollar may be the lesser of all evils in the financial world. Here’s what I mean by that statement: I heard that a Chinese businessman who lives in Hong Kong said that the stimulus plan would not work in China, simply because there is so much corruption.”
“This is an educational trading video to show you one of the most important technical chart formations and how to incorporate our “Trade Triangle” technology to come up with big winners.”
(Clicking the Image opens the video)
