The current corrective rally posted two closes above the 20- day SMA and breached the down-sloping parallel line before failing and turing lower. This is a “double cross” pattern and portends the beginning of a new downward swing for the yen. The pattern also matches the criteria for a continuation pattern that could mark the center of the longer-term cycle that suggests lower prices into late May and target objective near 1.000. Look to sell the yen on any bounce. I will have specific recommedations in the TMV Swing Trade report.
