Subjugal
Long

USDJPY might be not bearish ?

FX:USDJPY   U.S. Dollar / Japanese Yen
I got the feeling, USDJPY             is seen as short for longterm. Considering monthly timefrime I could imagine, that last sell pressure was kind of reaction to long uptrend. So the sell off might be an ABC correction to EW from year 2012 to 2015. Looking at wave 5 of that EW, where much bullish activity has been and much activity during wave C of ABC correction I could imagine, that USDJPY             is not really bearish .
I know, this is not useful for trading at the moment, but I would be quite cautious to step into shorts.
I painted some levels, that might point to support and resistance zones. Regarding how USDJPY             run through that zones on way up and back down, it looks to me like aggressive buys and, as reaction, sells to save profits.
For long view I think USDJPY             might start another move up.
What I like is the geometry of the lines in EW move up and ABC move down. They look quite parallel. This makes the idea more valid to me.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out