kiwiwalnut
Long

USDJPY - Shorts "Too Convenient"

FX:USDJPY   U.S. Dollar / Japanese Yen
131 0 3
PA is parked at an awfully convenient spot for Thanksgiving... Its also extremely over brought.

Personally staying away from this until there is more signs of divergence. Know that retail crowd are piling into the shorts here.

USD net Bullish until inauguration day on backdrop of FED December rate hike and expected growth boost from confidence surveys. Which to me means this pair is getting winded up to be very 'high strung' for any potential shock announcements from the White House.
Comment:
snapshot
Comment: Waiting for ~116 area for a retrace. Let's see
Comment:
snapshot


Too early to tell but appears that downward correction is losing steam; possibility of further downward move likely but potential for one more leg up still in play - until then I won't be committing to any JPY pairs yet. Risk off events aplenty in December ~ January ( Trump admin policies / OPEC etc ) + USD bond sell offs with expected FED rate raise + equity drive into Nikkei.
Comment:
snapshot


Starting to see a channel forming and good signs of divergence - also very close to secondary TL ( green dashed TL ) - may hit a retrace again before edging up in yellow TL
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