Charts current to 18th May,
except
where otherwise indicated
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Double bottom scenario in green. Support at the current level is good, as is that at 46. Below that level we can expect a prolonged bear trend. See the next chart.
Downside
is a return to the lows of 2009.
Support at around the current level and then on the orange support at around 7,700.
Good support retested at 1.27.
Note: this chart is composed with reconstructed data for the period before the Euro was launched in 1999. The bottom in 2000 to 2002 is valid. But the turn in 1995, an essential part of the channel, is questionable.
Channel in blue failed. Top scenario in green.
Yen still strong. However, I don't give much chance to the target in green.
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