SteynTrade
Long

USDJPY Redistribution continuing

FX:USDJPY   U.S. Dollar/Japanese Yen
We are now in Phase B of the redistribution using a Wyckoff analysis. We are now building a cause in preparation for a new downtrend. Large institutions and large professional interests are still disposing of their long inventory and initiating short positions in anticipation of the next markdown. The COT non-commercial interest are still short and showed some increase last week. The large interests are net sellers of shares as the TR             evolves, with the goal of exhausting as much of the remaining demand as possible. This process leaves clues that the supply/demand balance is still tilted toward supply instead of demand. Low volume interest is currently shown and 101 level is showing resistance.
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