The probability of heading lower is very, very high. USDJPY
is beautiful in the sense that it consolidates for long periods of time before making a major and usually clear move. You could say the same about every product, but USDJPY
has had this perfect conformance with patterns since 2012 unlike any other currency, IMO
. I will assume it will continue to do so.
I've been on this one for a while. The chart below shows the challenges posed since I've been keeping an eye on it going lower.
This time is not the same. It is as clear as it could possibly get.