temporary correction on usdjpy imminent
shorting usdjpy is a real nightmare, this pair is going nowhere, we have to keep it only to a short term strategy, obeying only the no more than 3h time frame big classics patterns.
now, at a moment when sellers are certainly panicking this is the occasion for the market to put out of the money the long positions taken too fast today. the DMI, one of the most powerful exhaustion indicator ever, is low at its extreme on the 3H time frame, it cannot go any lower, so usdjpy will gently correct before deciding any continuation upside or reversal.
take your profit if any without waiting too much as this pair is a real nightmare for long and mid term trading recently
now, at a moment when sellers are certainly panicking this is the occasion for the market to put out of the money the long positions taken too fast today. the DMI, one of the most powerful exhaustion indicator ever, is low at its extreme on the 3H time frame, it cannot go any lower, so usdjpy will gently correct before deciding any continuation upside or reversal.
take your profit if any without waiting too much as this pair is a real nightmare for long and mid term trading recently
Comment:
how convenient !!! a news (that was not really a surprise) is falling from the sky to be interpreted a the good reason for which usdjpy is falling, but this is always the same story, the moment the news appears is always in a perfect alignment with geomerical and technical configuration of the chart !! how convenient !! good for us, it tells only one thing, big players wanted and prepared themsleves for downside.