captain_smollett

USDJPY. Yen party is about to start

FX:USDJPY   U.S. Dollar/Japanese Yen
100 4 5
5 months ago
USDJPY             bulls have their last chance to achieve something important. With DXY             close to the top, there is a huge bearish divergence on Daily chart which should start working at some moment. Price above 107.5 would break this divergence but I seriously doubt this will happen

Will start building shorts next week, hopefully from 104.5-105, targeting 95 as first target and, eventually, 90-85 zone
4 months ago
Trade active: Shorted 104.69 yesterday, it is still active but moved at breakeven already
4 months ago
Trade closed: stop reached: Trade closed at breakeven. Update to follow
4 months ago
Trade active: Longed 103, moved to breakeven now. I think it will get to 107
4 months ago
Trade closed manually: Stopped out at breakeven
4 months ago
Comment: DXY still hasn´t achieved the target of 100 ish so the shakeout continues. I post a chart below which shows a nice 1-2-3-4-5 wave structure. Eventually, shorts can be played from 108.40 or 111.30.

If next week there will be a correction in this pair, I´d say "buy the dip" but with a lot of attention as this still would be the part of a great shakeout which started back in June
4 months ago
Trade active: Shorted 108.50, moved to breakeven. TP: 95
4 months ago
Trade closed manually: Stopped at breakeven
snapshot


Pair breached the median line but the divergence on daily is still perfectly valid. Expecting a pullback to the medial line and then it will decide if start falling further or getting to daily 200 MA at 107 area.
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captain_smollett PRO captain_smollett
4 months ago
Median line, sorry
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captain_smollett PRO captain_smollett
4 months ago
Longed 103, moved to breakeven now. I think it will get to 107
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snapshot


Nice structure! Fibo levels coincide with strong resistance levels
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