ridethepig

150 in the crosshairs for USDJPY

Long
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
The best move in FX, since 2020 was the idea of early development of the base in USDJPY , let's start with a quick chart review which really got into the heart of the matter. This update is much more about the technical configuration and how to work with an impulsive move.


Unlocked.


As is now becoming clear to many analysts, USDJPY is playing towards the 150 macro level, this is in a certain sense an impulsive leg; the C leg of an ABC correction, would bring into its own 5-3-5 majority. Fresh sellers will refrain from stepping against this train. Rightly so, because here would be the typical example of false prevention, which only manages to create new weaknesses eg from early soft sellers which will provide fuel to play against the isolated highs.

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