Sforex
Short

USDJPY: I think U/J has not finished the downtrend yet.

FX:USDJPY   U.S. Dollar/Japanese Yen
84 0 0
Do you think is USDJPY             complete its downtrend ?

I think the answer is NO.

Key support is at 118.60, I think USDJPY             should test this support incoming days.

2 signals I said to confirm for downtrend:

- Break SMA100+ SMA200 : The main signal is SMA100 cut SMA200 for the first time since September 2014 --> a strong signal of Downtrend.

- Move below Kumo cloud.

Today, I show you one thing, I check Direction Movement System ( DMI             ) :

- DI- cut DI+
- ADX cut 20 level --> Signal the downtrend will be stronger.

The problem is I see DI+ and DI- stayed below 30 level for a long time. If DI- moves above 30, I think the downtrend would be more clearer.

In short, SELL USDJPY             to 118.60 is a appropriate trade currently.

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