From boring noise to clarity?

FX:USDJPY   U.S. Dollar / Japanese Yen
277 4 8
- Ichimoku picture turned to neutral, but bias is a bit bearish , given that Tenkan is still below Kijun and Tenkan points down. Future Senkou lines started to converge a bit more. Next bearish signal coulb be a weak bearish Chikou cross below past candles.
- After the big drop (long red candle) we had 6 weeks (!) of consolidation with decreasing volatility . Actually by last week this pair has become the most boring in FX space. Is it ready to continue lower finally??? Maybe yes, as haDelta/SMA3 seems to slowly turn down again from key zero level. This would be a confirming signal for bearish continuation.
- Most important supp/res zone is 116-117. If BoJ wants to protect JPY against further appreciation, they will have to do something ard             116, otherwise it makes a strategic bearish reversal.

- Still a noise, with a neutral-like Ichimoku setup, but with bearish bias! Price has been swinging around Kijun Sen, but below Kumo.
- Heikin Ashi signals have been mixed, even today's candle and haDelta/SMA3 is a question. I am not sure if this will be reliable. For bearish confirmation we should see smoothed haDelta breaking its slightly positive trend. Price is also stuck in a tightenning triangle... maybe a bear flag (?).
Lower key level is 119,25!
Upper Kex level is 121!

Strategy is: Hold small short or maybe still stay away. Trade rather on a break!
I entered a short here, I'm seeing a potential drop from this zone. Updates on it?
Saw Nikkei? Bumping the same resistance over and over...
Kumowizard IvanLabrie
I was short from 119,90, but since I was on holiday, I did not monitor px action ard 118, so I cut the shoert only later on trailing stop ard 119,25 avg.
It is still bearish biased imho. retesting back now the prev green uptrend line (lower side of prev triangle).

I just sold some at 119,70.
+1 Reply
IvanLabrie Kumowizard
I'm short, holding mine in minimal pain. I'm also long GBPJPY as a hedge.
Check out my last post if you want, what do you think?
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