Forex Glossary

Abandon

The term "Abandon" literally means to give up or relinquish (from the French: to abandon). In a financial context, it refers to giving up any right or ownership, withdrawing from a transaction, or surrendering the use of a financial option before it has fully expired.

Accelerator/Decelerator Oscillator

The Accelerator/Decelerator Indicator is a technical tool that shows whether the market’s driving force is currently accelerating or decelerating.

Accumulation/Distribution Indicator

The Accumulation/Distribution indicator is designed to reflect cumulative cash inflows and outflows by comparing closing prices to their corresponding highs and lows.

American Depositary Receipts (ADR)

An American Depositary Receipt (ADR) is used to trade the securities of foreign companies in the United States. A U.S. depositary bank holds shares of these foreign companies as part of the process of listing them on American stock exchanges. This system has been in use since 1927. ADRs are denominated in U.S. dollars and can also be freely traded in Europe. They serve as a tool for raising capital in both U.S. and global markets. Similar instruments may have different names to meet the requirements of specific markets.

American Stock Exchange (AMEX)

The American Stock Exchange (AMEX) originated from a small stock trading company and grew to become the second largest stock exchange in the United States. Its unique feature lies in trading the shares of developing companies, particularly small and medium-sized enterprises. Two main indices are calculated on this exchange: the AMEX Major Market Index and the AMEX Market Value Index.

Arbitrage

Simultaneously purchasing an undervalued financial asset and selling its overvalued equivalent in order to earn a risk-free profit by taking advantage of price differences caused by temporary market inefficiencies.

Ascending Triangle

The Ascending Triangle pattern is a chart formation that indicates the continuation of the current trend. It typically develops during uptrends and confirms that the upward movement is likely to continue.

Ask price

The ask price is the price at which a financial instrument can be purchased.

Ask Price

See ask price.

Asset

An item with economic value that may generate income in the future.

Australian Dollar/US Dollar (AUD/USD)

The AUD/USD currency pair consists of the Australian dollar as the base currency and the US dollar as the quote currency.

Australian dollar (AUD)

A slang term used to refer to the Australian dollar.

Automated Trading

Automated trading is a method that enables trading transactions to be executed entirely automatically.

Average Directional Index (ADX)

The Average Directional Index (ADX) is a technical indicator developed by Welles Wilder to determine the strength of a trend and forecast future price movements by analyzing the dynamics and variations of trading price highs and lows.

Average True Range (ATR)

The ATR indicator was developed to measure market volatility.

Awesome Oscillator

The Awesome Oscillator (AO) is an indicator that reflects subtle changes in market momentum, helping to identify the strength of a trend, including points where it forms or reverses.

account balance

The total financial result of all transactions and completed deposit/withdrawal operations in the trading account.

Backwardation

Backwardation is a market condition in which the current price of a futures contract is lower than the price of the underlying asset. The term also refers to a situation where the price of a near-term futures contract is higher than that of a longer-term futures contract.

Bank of Canada (BOC)

The Bank of Canada is the central bank of Canada.

Bank of England (BOE)

The Bank of England is the central bank of the United Kingdom.

Bank of Japan (BOJ)

The Bank of Japan is the central bank of Japan.

Bar chart

This type of chart displays four price values for an asset during each time period: the highest price, the lowest price, the opening price, and the closing price. The highest and lowest prices are shown by a vertical line, while the opening and closing prices are indicated by horizontal lines: the line on the left side of the bar represents the opening price, and the line on the right side represents the closing price.

Base currency

The first currency in a currency pair in the forex market.

Base Interest Rate

Banks set various interest rates to determine the main lending rate for different types of loans. The value of these rates depends on factors such as the supply and demand for credit resources, prevailing market interest rates, and other considerations. The base interest rate is initially set by the central bank, which is the rate at which other banks can borrow from the central bank. The base rate established by the central bank has a direct impact on the value of the country’s currency. Therefore, monitoring changes in this indicator can help traders make informed decisions in the forex market.

Basis

The basis is the difference in price between a futures contract and the price of the underlying asset. This difference can be either positive or negative. At the contract’s expiration date, the basis becomes zero, as the futures price and the spot price are equal.

Basis point

A basis point is a unit of measurement equal to one hundredth of a percent (0.01%). When calculating interest rates, it is important to avoid any ambiguity: basis points are used to clearly express changes in interest rates. For example, an increase in the base interest rate from 7% to 7.2% represents a change of 20 basis points.

Bear Market

A market characterized by falling prices (price quotes).

Bearish Rectangle

The rectangle chart pattern is used to confirm the direction of the prevailing trend. A bearish rectangle forms during a downtrend and indicates a strong likelihood that the price will continue to decline.

Beneficiary

In the financial field, the term "beneficiary" is frequently used to refer to the person or entity that receives a benefit, whether financial or otherwise. A beneficiary is a legal entity or individual who gains a profit according to the terms of debts and other financial documents.

Bid Price

The ask price is the price at which any financial instrument is offered for sale.

Bid/Ask Spread

The difference between the bid and ask prices.

Bill Williams Chaos Theory

Bill Williams developed his unique theory that combines trading psychology and chaos theory, and examines their impact on the markets.

Binary options

Binary options are a relatively modern financial instrument characterized by a fixed cost and predetermined risks and potential returns. They are considered suitable for beginner traders, as the possible profit is known before entering a trade, and you can open a position simply by choosing the expected price direction.

Bollinger Bands Indicator

The Bollinger Bands indicator reflects current changes in market volatility, confirms trends, signals the potential continuation or end of a trend, identifies periods of consolidation, highlights increased volatility during breakouts, and helps to pinpoint local highs and lows.

Break

The term "Break" is used to refer to a sharp rise or fall in prices and serves as an indicator of an imbalance between supply and demand, occurring when sellers significantly outnumber buyers.

Bretton Woods Agreement

In 1944, members of the United Nations met in Bretton Woods, United States, and signed an agreement to establish a currency exchange system among economically advanced countries. After World War II, the US dollar became the world’s reserve currency, as the United States guaranteed that its currency could be exchanged for a fixed amount of gold. The International Monetary Fund (IMF) was created to facilitate the international payments system. However, the Bretton Woods Agreement did not anticipate that countries would seek to accumulate as many US dollar reserves as possible. This meant that the United States could end up in a position where it could not cover these reserves with its gold holdings. When West Germany and France began exchanging their dollar reserves for gold in 1971, the United States abandoned the commitments it had made since 1944.

Broker

A company or individual that acts as an intermediary to provide clients with access to markets and to facilitate the trading of financial instruments.

Bull

A trader or investor who acts on the belief that the market, or the price of a particular financial instrument (such as a currency pair, stock, etc.), will rise. A trader who expects prices to go up opens buy positions.

Bull Market

A market experiencing rising prices (price quotations).

Bullish Rectangle

The rectangle chart pattern is used to confirm the current market trend. A bullish rectangle forms during an uptrend and indicates a high probability that asset prices will continue to rise.

Candlestick chart

This type of chart displays the opening and closing prices, as well as the highest and lowest prices, for a specific time period. If the opening price is higher than the closing price, the body of the candlestick is shaded. Conversely, if the closing price is higher than the opening price, the body is unshaded.

Contract for Difference (CFD)

CFD stands for "Contract for Difference." It is an agreement between two parties in which the seller pays the buyer the difference between the current value of an underlying asset and its value at the time the contract was made, if that difference is positive. Conversely, if the difference is negative, the buyer pays the seller. CFDs allow traders to gain exposure to underlying assets without having to own them directly.

Channel

A channel is a stable range of fluctuations in an asset’s price with a fixed width.

Chart

Charts are visual representations of price changes for a financial instrument over a period of time.

Clearing

Settling orders between the transacting parties.

Commodity Channel Index (CCI)

The Commodity Channel Index (CCI) is an indicator developed by Donald Lambert. Although it was originally intended to identify new trends, it is now widely used to measure the current price level relative to its average.

Commodity currencies

Currencies of countries whose exports rely primarily on natural resources. This group can include both developing and developed nations, such as the Canadian dollar, Australian dollar, New Zealand dollar, Russian ruble, and others.

Cross currency pair

An exchange rate between two currencies that is calculated based on each currency’s rate against a third currency. This term typically refers to currency pairs that do not include the US dollar.

Cross Currency Pairs

Currency pairs that do not include the US dollar in foreign exchange trading are known as "cross currency pairs."

Currency Pair

A financial instrument that represents the purchase or sale of one currency against another.

Daily chart

A chart of market movements in which each time unit represents one day.

Day trading

Trading activities that are completed within the same day.

Dealer

A company or individual that acts as the main executor or counterparty in a transaction.

DeMarker Indicator

This indicator was developed as a tool to monitor emerging buy and sell opportunities. It highlights phases where the likelihood of price changes increases, which often correspond to price peaks and troughs.

Depreciation

A decrease in the value of an asset.

Derivative

A financial contract whose value depends on the value of one or more underlying assets. These assets may include indices, stocks, commodities, currencies, and others.

Descending Triangle

A descending triangle pattern is a chart formation that indicates the continuation of the current trend. It most often forms during a downtrend and confirms that the downward movement is likely to persist.

Diamond

The "diamond chart pattern" is a signal of a potential reversal in the current trend. This pattern typically forms during an uptrend.

Double Bottom

A double bottom pattern is a chart formation that indicates a reversal of the current downtrend. The longer it takes for the pattern to form, the more reliable it is considered as a signal of reversal.

Double Top

A double top pattern is a chart formation that indicates a reversal of an existing upward trend. The longer it takes for the pattern to develop, the more reliable it is considered as a signal of reversal.

Economic calendar

An economic calendar is a schedule of events provided by brokerage firms and other financial companies, which traders use to track events that may affect asset price movements.

Envelopes Indicator

The Envelopes indicator reflects overbought or oversold price conditions, allowing traders to identify potential entry and exit points in the market, as well as the likelihood of a prevailing trend reversal.

Euro/Japanese Yen

The currency pair consisting of the euro and the Japanese yen, which indicates how many units of yen are required to purchase one euro.

Euro

A monetary unit used in 19 European Union countries, including Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Estonia.

euro/US dollar currency pair

The most popular currency pair, in which the euro is the base currency traded against the US dollar, which serves as the quote currency.

Expiration Date

The last day on which a transaction can be executed or canceled on a derivatives contract (such as futures or options).

Flag

A flag refers to a short-term chart pattern that typically indicates the continuation of the current trend, showing that the price direction is likely to remain unchanged in the near term. This pattern often forms on the daily chart over the course of a week or two.

Force Index

The Force Index is an indicator developed by Alexander Elder to measure the strength of price movements by analyzing three components: direction, momentum, and trading volume. This indicator oscillates around the zero level, which represents the relative balance point of the forces driving the price.

Foreign Exchange (Forex)

The market in which participants have the ability to buy, sell, exchange, and speculate on currencies. The Forex market consists of commercial banks, central banks, investment management firms, hedge funds, brokerage companies, and individual investors (traders).

Forex Broker

A forex broker is a licensed financial company that facilitates the trading of foreign currencies.

Forex Resistance

A price level that acts as a "ceiling," preventing the current price of a currency from rising further.

Forward transaction

A forward transaction is a binding agreement in which the buyer and seller agree to deliver an asset (such as a currency or commodity) on a specified future date, with the price of the asset determined at the time the contract is made.

Fractals Indicator

The Fractal Indicator is a tool that identifies local highs and lows where the price movement has paused and reversed direction. These reversal points are known as "peaks" and "troughs."

Fundamental analysis

Analyzing economic and political events that may affect the future direction of prices in financial markets. In the currency market, fundamental analysis mainly relies on macroeconomic events.

Gap

A price gap occurs when an asset moves sharply up or down without any trades being executed during the movement.

Gator Oscillator

The Gator Oscillator is a companion to the Alligator Indicator and is used alongside it. It shows how close together or far apart the three moving averages are, indicating periods when the "alligator" is hungry or sleeping—that is, whether the market is trending or moving sideways.

GBP/USD currency pair

The abbreviation GBP refers to the British Pound Sterling, which is traded in this pair against the US Dollar. The currency pair shows how many US Dollars are required to purchase one British Pound.

Growth stock

Growth stocks are shares of companies that demonstrate strong profit indicators—typically above average—over a certain period (usually several years), or are expected to have significant growth potential in the near future. The main advantage of these stocks is that their value tends to increase more rapidly than that of regular stocks. However, their prices can also decline sharply. Additionally, holders of growth stocks usually receive little or no dividends, since profits are reinvested in the company’s development, especially when the company is newly established.

Head and Shoulders Pattern

The head and shoulders pattern is a chart formation that indicates the end of an existing trend and a potential reversal in price direction. This pattern typically forms at the end of a well-established upward trend.

Hedge / Hedging

A strategy used to reduce the risk of sharp price fluctuations affecting a trader’s positions. Hedging typically involves selling or buying at a forward price, or opening an offsetting position in a similar asset. Hedging becomes more common as market uncertainty increases.

Ichimoku Indicator

The Ichimoku Indicator is a comprehensive technical analysis tool introduced in 1968 by Japanese journalist Goichi Hosoda. The system is designed to provide a quick understanding of trend direction, strength, and dynamics by interpreting its five components together with price movements. It operates within an interactive, cyclical framework, reflecting the recurring dynamics of collective human behavior.

Inflation

Inflation is a sustained increase in the general level of prices for goods and services.

Inverse Head and Shoulders

The inverted head and shoulders pattern is a chart formation that signals a reversal of the current trend. This pattern typically forms during an ongoing downtrend.

Japanese yen

The yen is the official currency of Japan.

Leverage

Leverage is a loan provided by a broker to a client, allowing the client to execute large trades using a relatively small amount of their own capital.

Libid/Libor (London Interbank Bid Rate / London Interbank Offered Rate)

LIBID stands for the London Interbank Bid Rate, which is the rate at which banks in London are willing to buy (accept deposits) from other banks. LIBOR stands for the London Interbank Offered Rate, which is the rate at which banks in London are willing to lend to other banks.

Limit order

An order to buy or sell a specified quantity of a financial asset at a set price or better. For example, if the USD/JPY pair is quoted at 108.24/108.26 (bid/ask), a trader can place a buy limit order at 107.50. If the price drops and the ask reaches 107.50, the trade is executed and a buy position is opened.

Liquid market

A market characterized by the ability to buy and sell large quantities of assets at any time and with low transaction costs.

Liquidity

Liquidity is the market’s ability to execute large transactions without significantly affecting price stability.

Listed Stocks

A list of stocks authorized for trading on stock exchanges. Before a stock is added to this list, it must undergo an acceptance process known as "listing," which involves verifying that the company meets specific criteria such as market capitalization, sales volume, the number of shares traded, and other requirements.

Lot

A lot is a standardized unit of the quantity of financial assets in a single transaction.

Margin

Margin is the amount of money that a client is required to deposit in order to maintain open positions.

Margin call

A margin call is a request from the brokerage firm to deposit additional funds into the trading account.

Market Facilitation Index

The Market Facilitation Index (MFI) is used to assess the market’s willingness to move prices. In practice, the absolute values of the index are not used; instead, its dynamics are analyzed in relation to changes in trading volume.

Market order

A market order is an instruction to buy or sell a financial asset (such as a currency) at the current market price.

Momentum Indicator

The Momentum Indicator is a technical analysis tool that shows the direction of a trend and measures the speed of price changes by comparing current values to previous ones.

Money Flow Index (MFI)

The Money Flow Index (MFI) is a technical indicator used to assess the strength of money flowing into a particular asset by comparing price highs and lows over a specific period, while also taking trading volume into account.

Moving Average Envelopes

A moving average is a technical analysis tool that shows the average price of an asset over a specified period. It smooths out price fluctuations, thereby reflecting the direction and strength of a trend.

Moving Average Indicator

A moving average is a technical analysis tool that displays the average price of an asset over a specified period. It smooths out price fluctuations, thereby highlighting the direction and strength of a trend.

Moving Average of Oscillator

The OsMA (Oscillator’s Moving Average) indicator is a technical analysis tool that shows the difference between the value of an oscillator (such as the MACD) and its moving average (the signal line).

Moving Average Convergence Divergence Indicator

The MACD indicator shows the convergence and divergence of moving averages. It is designed to assess the strength and nature of a trend, as well as to identify potential reversal points, by generating signals based on the combination of three moving average time series (the fast, the slow, and the signal line).

New York Stock Exchange (NYSE)

"Big Board" is a slang term used to refer to the New York Stock Exchange (NYSE). The NYSE is the largest stock exchange in the world by the total market capitalization of its listed companies. It hosts the trading of the greatest number of stocks globally, with more than 3,000 companies listed.

One Cancels the Other order (OCO order)

An OCO order combines two pending orders to open a position at two different prices away from the current market price. Once one of the orders is executed, the other is automatically cancelled.

Offer

The ask price is the price at which a currency can be purchased.

On-Balance Volume (OBV)

The On-Balance Volume (OBV) indicator is a cumulative indicator based on trading volume that reflects the relationship between trade volume and the price movement of an asset.

Open position

Any transaction that has not been closed by an offsetting (opposite) transaction.

Order

Any instructions from the client regarding the execution of trading transactions.

Out-of-the-money Option

An out-of-the-money (OTM) option means that the option’s market value is less than its purchase price. For example, if you expected the price of an asset to rise but it actually fell, you would lose money and the option would be out-of-the-money. An option can fluctuate between being profitable (in-the-money) and unprofitable (out-of-the-money) at different points before it expires.

Pair

A financial instrument that shows the value of one unit of a currency relative to another.

Parabolic SAR

The Parabolic is a technical indicator designed to confirm or refute the direction of a trend, identify the beginning of a correction phase or sideways movement, and signal potential exit points from trades. The indicator is fundamentally based on the "Stop and Reverse" (SAR) concept.

Pennant

The flag pattern is a short-term chart pattern that signals a continuation of the current trend, indicating that the existing direction is likely to remain unchanged in the near future. For example, on a daily chart, this pattern usually forms over the course of one to two weeks.

Pip

A pip is the smallest possible change in the price of an asset. Generally, for most currency pairs quoted to the fourth or fifth decimal place, a pip equals 0.0001 or 0.00001. However, for Japanese yen pairs, a pip is 0.01 or 0.001, as these are quoted to the second or third decimal place. For other financial instruments, the value of a pip typically ranges between 0.1 and 0.001.

Portfolio Trading

The simultaneous purchase or sale of a basket of securities assembled into a portfolio according to specific criteria.

Profit

Financial profit generated from trading activities.

Pound Sterling

A commonly used term referring to the British pound sterling (GBP).

Quoted currency

The second currency in a currency pair is known as the "quote currency."

Rate

It represents the value of one currency in relation to another currency.

Relative Strength Index (RSI)

The Relative Strength Index (RSI) was developed to evaluate the strength or weakness of a trend and to measure the speed of price changes by comparing recent gains and losses based on closing prices.

Relative Vigor Index

The Relative Vigor Index (RVI) is an indicator developed to identify the prevailing market trend. The indicator is based on the simple idea that, in an uptrend, closing prices are generally much higher than opening prices, while in a downtrend, closing prices are typically lower than opening prices.

Resistance Level

Resistance is one of the key concepts in technical analysis. It is defined as a price level where selling pressure is strong enough to prevent further buying and stop the price from rising.

Retail customer

Any party in a forex transaction who is not classified as an eligible contract participant under the U.S. Commodity Exchange Act. This includes individuals with less than $10 million in assets and most small businesses.

Risk management

The process of identifying and assessing the level of risk, taking the necessary actions to reduce it to the desired level, and monitoring this new level.

Rollover

Rollover is the process of extending the settlement date of an open position to the next settlement date.

Saucer Pattern

The "saucer" or "bowl" pattern is a long-term formation in technical analysis that indicates a gradual transition from a downtrend to an uptrend. This pattern typically appears as a curved shape that is clearly visible on weekly charts, and it may take more than a year to fully develop.

Security deposit

The amount of money required to open or maintain a trading position. It is also known as "margin."

Settlement

The process of delivering securities to the buyer in exchange for payment to the seller, usually completed one to three days after the trade is executed.

Spot market

The spot market is a market where transactions are executed immediately, with ownership of the asset transferring directly from the seller to the buyer at the time the deal is made. However, final settlement may take up to two business days.

Spot price

The current price in the spot market.

Spread

The difference between the bid and ask prices. It is displayed in the price quotes on the trading platform. The current spread for a currency pair or asset is an important indicator of the liquidity of the financial instrument.

Stochastic Oscillator

The stochastic indicator identifies the position of the current closing price within the price range over previous periods, based on the idea that, in an uptrend, prices tend to close near the upper end of the range, while in a downtrend, they tend to close near the lower end.

Stock

There are several ways to attract investment, one of the most prominent being the issuance of shares. Shares grant investors the status of shareholders in the company and entitle them to receive a portion of the company’s net income as dividends. In addition to dividends, shares also offer the potential for profit through fluctuations in their prices on the stock market.

Stop Loss order

A stop-loss order is used to limit potential losses and is set at a price less favorable than the price at which the position was opened or the pending order was executed.

Strike price

The strike price is the exchange rate at which the buyer of a call option can purchase a specific currency pair, or the buyer of a put option can sell the pair. It is also known as the "exercise price."

Support Level

Support is one of the fundamental concepts in technical analysis. It is defined as a price level at which buying activity for an asset is strong enough to prevent further selling and stop the price from declining.

Swap

The process of crediting or debiting a specific amount to a client’s account when an open position is rolled over to the next value date (“overnight”). The size of the swap depends on the position size and is determined by the current interest rate differential between the two currencies (or assets) in the interbank lending market.

Symmetrical Triangle

A symmetrical triangle is a chart pattern that typically signals the continuation of the existing trend. It can appear in both upward and downward markets, and is used to confirm that the price is likely to continue moving in the same direction.

Take Profit order

A "Take Profit" order is used to automatically close a trade when the target profit level is reached. It is set at a price that is more favorable than the trade’s opening price or the execution price of a pending order.

Technical analysis

Technical analysis is used to predict future changes in financial and commodity markets based on the history of price changes (that is, past price movements).

Technical Indicators

Technical indicators are an integral part of technical analysis, designed to help traders anticipate market direction. Traders use a wide range of indicators to assess market movements—some prefer indicators with a proven track record, while others experiment with new ones. Examples of such indicators include Bill Williams indicators, momentum indicators, trend indicators, and volume indicators.

Tick

The smallest possible price movement in the price of a financial instrument.

Trailing Stop

A "Trailing Stop" automatically adjusts the stop-loss order according to the following rule: if the profit on the position exceeds the specified fixed distance, the stop-loss order moves to a level where the difference between the current market price and the order price equals that distance.

Transaction costs

The costs incurred by a trader when buying or selling currencies or commodities, including the broker’s commission.

Transaction date

Transaction date.

Trend Continuation Patterns

Trend continuation patterns (chart patterns) form during a temporary pause in the current trend and indicate that the trend is likely to continue rather than reverse.

Trend line

Lines that connect a series of the highest peaks or lowest troughs on a price chart.

Trend Reversal Patterns

Reversal patterns are chart formations that appear after the price reaches its peak in the current trend, indicating a high probability of a trend reversal.

Triple Bottom

The triple bottom pattern typically forms during a downtrend and signals a potential reversal to an upward trend. This pattern is considered stronger than the double bottom pattern.

Triple Top

The triple top pattern typically forms during an uptrend and signals a potential reversal to a downward trend, indicating that prices may decline. This pattern is considered more significant than the double top pattern.

US Dollar/Canadian Dollar (currency pair)

The currency pair consisting of the US dollar and the Canadian dollar, which indicates how many Canadian dollars are required to purchase one US dollar.

US Dollar/Swiss Franc

The USD/CHF currency pair, where the US dollar is the base currency and the Swiss franc is the quote currency.

US Dollar / Japanese Yen (currency pair)

The USD/JPY currency pair, where the US dollar is the base currency and the Japanese yen is the quote currency.

Value date

The settlement date is the date by which funds must be exchanged between the two parties—that is, when the purchased currency is received and the sold currency is paid.

Volatility

It is a measure of risk and serves as a statistical indicator that evaluates the degree of fluctuation in an asset’s prices.

Volume Indicator

Volume is a technical analysis indicator that represents the trading activity of investors over a specific period of time.

Volume Indicators

Trading volume reflects the level of activity among market participants, as well as the strength and intensity of their movements.

Wedge

A "wedge" is a short-term chart pattern that typically signals trend continuation, indicating that the current trend is likely to remain unchanged in the near future. This pattern usually forms over the course of one to two weeks on a daily chart.

Williams Alligator

The Alligator (Williams Alligator) is an indicator developed to identify market trends and the direction in which the price is moving.

Williams Percent Range Indicator

This indicator aims to identify overbought or oversold conditions for an asset and potential reversal points.

Yen

The monetary unit of Japan.