justatrader
Short

USDJPY - Happy New Year #2016 (Short side still in play)

FX:USDJPY   U.S. Dollar / Japanese Yen
753 18 17
This is the updated chart for the year, from last year.

Price managed to touch to the 123.1 level and there looks to be a move building up to the downside. A close above 123.1 on monthly will invalidate the set up. Expect a gradual decline lower to 106 - 102. Could take 2016 or next year

Watch for break of the steep price channel . There could be a minor move higher which should be the last pop before prices start to fall.

Good luck and Happy and a Profitable New Year
Institutional Commentary: GS talks about 110/100 in $/Y. http://news.forexlive.com/!/jp-morgan-on-the-yen-usdjpy-going-back-to-110-and-equilibrium-below-100-20151224
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I aim for 113. Good one!
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Mughal2657 IvanLabrie
i don't think so near in the future we gonna see the price at that level bulls are very powerful at the movement i think we gonna see break up in the channel and final 5th wave may appear in the channel as we are at the correction level for the 4th wave.
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Mughal2657 IvanLabrie
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Mughal2657 Mughal2657
every time when price try to break the bulls channel it failed to break the channel for bearish trend
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IvanLabrie Mughal2657
That wave count isn't too clear, and it takes for granted all the structure before it.

I don't subscribe to that count, nor to traditional EW (I do think Neowave has merit, and it's way more strict with the rules needed to come to a complete wave count).

Price will slide down on Monday, I'm 80% sure.
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Mughal2657 IvanLabrie
+1 Reply
Mughal2657 Mughal2657
bro these are my thoughts i might be wrong
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Mughal2657 IvanLabrie
EXAMPLE CASE
+1 Reply
Mughal2657 IvanLabrie
+1 Reply
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