USDJPY is ready for a deep fall as volumes are declining and price is rising parabolic to a standstill. Good R:R of 1:10
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Clearly need to babysit this trade because of the USD pumping done by CB
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So artificial, no risk management is showing it's importance. But don't let this deal go, if you are stopped out or still holding you will soon be rewarded imo
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R:R is 10 but honestly I think it may go down all the way to 102 in the next 6 weeks. Scalp it for maximum profits!
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Let's wait for LH to confirm before we go in again
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Long wicks, there she comes. USDCHF and USDCAD went ahead already. Go UJ!
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Let's try this again from new heights. Similar signals moreover. Volumes declining while price rallies in a curve signalling selling pressure to overpower buying pressure.
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Two days further, turning our day trade into an intra day trade, it has become profitable. If our expectations are correct we will maintain or R:R because on the chart above it now looks like a poor 1:2
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Let's hold it longer with as goal at least a 1:10. The final duration of the trade will be of valuable input to us for further trading of this USD devaluation season.
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The fall has started now that USD and CAD are in sync and bot in a downtrend. It's just that the JPY is holding up the other two.
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As usual I was too much of an optimist and and timely instant buying surges with no recorded volumes are blocking exactly when cycles are in favour of GU, EU, AU & NU to rally.
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Another positioning activity by the market has put all currencies into the correct position for this move. I sell UJ again.
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Almost a full month further down, let's try again.