Japanese Yen Inverted HS

All right, I focused over to look at Japanese yen we’re looking at the March Japanese yen contract, which is six J H two to six J H two to march 2022, could be j y h 22, depending on the platform you’re using. But we are looking at a seasonality based trade here coming into the end of December, early January, basically looking for higher prices. So you can see on the 515 and 30 years total price averages that the markets tend to kind of sell off here, and then bottom out or base out at the end of the year and then bounce heading into at the end of the month right here at the end of the month into January and early February. If we take a look at the charts, you can see that has just happened. So we’ve been trading Lower, lower lower out of breaking out this triangle range, up here in September, basically meeting all of its objectives. And now we’re putting in a head and shoulders bottom also referred to as an inverted head and shoulders. And this pattern is projecting a potential roughly about a 200 Tick move that’s equal to $2,500 a contract on the full sized Japanese yen on CME, you can see that we have a neckline here, this is the right shoulder because we’re an inverse head and then a left shoulder and then the neckline here. So we’re looking for a breakout here, this neckline right around this 8875 area looking to take it up here to about 9100. That takes us right to the next projected target area without using the head and shoulders because this is the next key level of structure that we’ll be targeting anyway, to the upside. So we measure from 9100 bind it down to 8875. It’s actually about a 225 Tick move, or $2,800 per contract. So this is what we’re watching for and again, based off high probability technicals and seasonals. If you don’t want to trade Japanese Yen futures or Japanese Yen futures options, you can trade the ETF FX y now it’s not going to be as liquid not going to be as liquid but you can see a lot of the same similar patterns here. Also with the inverted Head, shoulders or head, shoulders bottom, we are right here with that little head shoulders and then the neck line coming in right here. So on FX y the ETF currently trading at around 83 quarter, we are looking for a move up to around this 85 level. Taking about two a five level I think you’ll get more bang for your buck trading the Japanese Yen futures or futures options contract but you can certainly use FX y the ETF