USDJPY: Weekly analysis - Trend up possibly

FX:USDJPY   U.S. Dollar / Japanese Yen
This is a weekly breakdown of the patterns in $USDJPY , showing the power of Tim West's methodology in action. I'm back in the long side here, bought at 110.611, and will let it run until we retest the supply at the top of the range at least. If we do get there it will be interesting to see how it navigates through it, or, if it tops and goes back down.

The market has some upside left, to the tune of 10%+, so it is likely that investors will use the yen to get some free money to invest in US assets. We have record outflows from japanese bonds and stocks, and it is likely that this correlates with the move back into the US for foreign investors.


Ivam Labrie.
Comment: I think it's about to turn up. I started averaging into a long position earlier today.
Monitoring the correction, it's not done yet...
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Are we talking about weeks later or months?
+1 Reply
@JoE, averaging in? I'll buy for 2 more days.
+1 Reply
IvanLabrie moorekapital
@moorekapital, yes, this can be one heck of a bottom in the $USDJPY pair.
Good luck mate.
moorekapital IvanLabrie
@IvanLabrie, 130/131 most likely in the near future ;)
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