oops

USDJPY - bearish engulfing

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
2
that's a nasty candle we are witnessing.

Under every other "normal" circumstances this whole picture would be regarded as SELL:
a) great 5-waves rally
b) losing momentum, negative divergence on the RSI
c) 12% away from 200d SMA , so even only slightly revert to mean could be adoptable
d) after negative divergence on the MACD , the trigger line has been crossed to the downside
e) just because Abe-san "wants" inflation , doesn't mean it's coming overnight.
f) right now we are a bit on a "risk-off" attitude with EUR weakening, global stocks are off their highs, Gold advancing everything ever so slightly...so in this respect JPY and CHF used to be sought after.

why not now ? why not retracing a little towards 89-91 area before the major reversal uptrend to 120 resumes...
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