ztokar
Short

USD.JPY, breakdown of corrective structure

FX:USDJPY   U.S. Dollar / Japanese Yen
32 0 2
Hello traders,

We have a bearish impulsive move followed by a corrective structure with lower highs, mainly being contained by the 20 ema , hinting to the next leg being down.
The most recent bearish move looks like it could be the beginning of the breakdown, so I'd be looking to get short close about 50-61.8 retrace/confluence with the SR level, maybe this could get to 101 (given that the impulsive move leading into it was a 1000 pips)

Fundamentally, I am pretty bearish on the US Dollar             , given the recent FOMC take away two interest rate hikes from projections, and the BOJ looks like it is just jawboning now, no real bullets left.
No real news events for US/J this week so looks like a safe bet here, with a healthy RR
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out