If you are following me on USDJPY for a while then you know we are longer term bearish on USDJPY.
USDJPY went down nicely from previou high and now forming daily correction this correction should breakdown and should continue for more downside. We are already short on USDJPY from top. Now we are looking for this daily correction to breakdown and continue for more downside.
How you can trade on this chart.
This is a daily chart. You should watch lower time frame for better entry.
1. It is forming daily flag.Within that daily flag it can go back up for one more bullish wave let the wave happen and then look for sell from new high within that flag.
Or
2. Watch lower time frame correction like 30 minutes and then look for that correction to breakdown and go down.
In case this daily flag is not going tho breakdown and price is going to test back the previous high then we will be seller again from previou high as i said we are longer term bearish on it.
Good Luck.
Please support the setup with your likes, comments and by following on TradingView thanks
ความคิดเห็น
⋅
If not sure what to look for then watch this lower time frame.
1. Correction one lower time frame and breakdown.
Or
2. One more bullish wave and then sell.
Ideal place to go for longer term sell is top. in case we dont see price at that area then flag.
here is the example.
ความคิดเห็น
⋅
Please support the setup with your likes, comments and by following on Trading View thanks
Dude, haven't you read the recent report from Japan Financial System Council ??? Their banking risk is the highest in 30 years, further strengthen of the Yen will cause complete systemic failure.
SonyBee
⋅
I see your point. so if the yen is stronger that will make the dollar weak. But to the flip side the US is going to make sure nothing beats the dollars. I will say the dollar will be stronger due to the weather in the air.@ShentaTsai,
ShentaTsai
⋅
@SonyBee, The best way for Japan to reduce their risk is lower their exchange rate, in which , favor to the dollar, US will not have objection, and start to recover oversea lending, even with some lose, but the exchange rate ( most lending is in US dollar base ) will offset or even provide profit. In the case that Yen go stronger, at the current low liquidity mood, their banking system will suffer systemic blow.
MrDiamondHands
⋅
I have never seen someone be wrong on almost every single chart they post. Impressive.
salom90
⋅
Good Morning.
How do you see the pair currently?
there is divergence in H4.
Can we trade in sell?
FXme
⋅
hi, is your outlook valid on Oct 31st?
ntt1411983
⋅
Amazing analysis.
NinoGaleotti
⋅
Down to 110 before November 6 is very plausible. Whether it would sink to 105 as Wave-Trader suggests, it would depend on the Mid-Term elections on November 6 and would materialise if the Republicans loose.