QUESTION: Marty, they called you Mr. Yen for good reason. I remember in 1998 when you sold $1 billion at 14700 on an MIT order (Market if Touched), and the dollar declined for 11 years thereafter. That 147 was your Yearly Bullish Reversal, which we blew through here in 2024, also on schedule. I remember that trade very well, and you said that if 147 were exceeded, the next stop would be 262. OK. We just hit 161. Are those forecasts from back then still valid?
TP
REPLY: Wow. You are still at it. My hat is off to you, as they say. Oh, I remember that trade very well. It was during the liquidity crisis with the collapse of Russia. Here is the Yen chart back to 1900. The primary resistance stands at the 210-212 level. We need 2024 to close above that Yearly Bullish Reversal at 147. Then, resistance will be below the Yearly Bullish Reversal of 262. It will form between 246 and 260. It appears to be a war on the horizon. Once the 262 level is exceeded, this points to 363, followed by 397 by the time we reach 2032.
