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.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out