nikitafx
Long

USD/JPY Fractal Spike & Drop, its high probability (Nikita FX )

FX:USDJPY   U.S. Dollar / Japanese Yen
1182 1 2
I am assuming a high probability of this Fractal Spike & Drop (repeating wave
Crash after '95.04--'97.04's 4775 pips Spike).
We are reaching Final '90--'98 descending resistance line at 123.61 (Dec. 05) and
Present wave 5 (if Fib.76.4% projection of wave 3 ) will be reaching at 123.30.

Next wave is Major-2 which has Fib.23.6--38.2% retracement of whole length (since 75.32).
That means 123.30-(123.30-75.32) x Fib.23.6%=111.98

How about this ?

Even with this scenario, my long term view is Super bullish !!

Nikita FX (http://climbingfx.jugem.jp/ )
CoT commercials bullish on JPY and bearish on USD. Just to be clear, this favours BEARISH on USDJPY long term; so the scenario at the peak is to drop away. I think this is what you meant; to be short. Maybe you mixed with inverse JPYUSD.
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