AndyM
Short

Carry-trade unwind, short USDJPY

FX:USDJPY   U.S. Dollar/Japanese Yen
404 3 12
The move from 100 to 114 was corrective and is likely fihished. New lows are likely, 93..100 is the target region.
Note that at the same time EURUSD             will move down into 1.00, and USDJPY             will go down to 100. EURJPY             target is therefore at circa 100.

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MoeHelou
11 days ago
But if the EURUSD will move down that meant the USD is going to be stronger the other !!! how come USD will lose thousands of pips for the JPY ???
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AndyM PRO MoeHelou
11 days ago
@MoeHelou, I was thinking the same, but then I checked EURJPY, and there we also have a lot of downside potential. The green ABC is a correction, and it is therefore supposed to be retraced to the downside. In order to achieve this we need EURUSD to go down _and_ USDJPY to do down too.
snapshot
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MoeHelou AndyM
11 days ago
@AndyM, Nice idea but be careful from the EURUSD there is huge support and the price will not leave it in that easily .
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