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chartwatchers
Oct 2, 2018 3:36 PM

USDJPY - Wash Rinse Repeat Short

U.S. Dollar/Japanese YenFXCM

Description

UJ had arrived to the same resistance (114) what stopped its rally in the last 2 years.
It took nearly 6 months this time to rally from the prior bottom to 114.

Today we have a swing on the daily chart ( a drop below yesterday's daily low)


RSI leaving oversold , MACD is nearing to levels where it turned down : it's time to tag 108 again in the following weeks.

Comment

Comment

Right now the daily chart looks like a Key reversal.

Comment

Even if we Get a pull back to the opening price the daily chart will be hanging man Which is also a reversal pattern. So I think this big red candle is the last nail in UJ’s coffin.
Comments
faronf
is it time to jump into miners?
BjornPfaff
UJ has topped huh hahah
faronf
you mean RSI leaving overbought i think.
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