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mortdiggiddy
Jan 7, 2021 6:16 PM

Short $USDJPY Against Multiple Resistances Short

U.S. Dollar/Japanese YenFXCM

Description

A falling wedge has formed for USDJPY. There is likely another short building here against the 50 DMA and another H4 RSI-14 Overbought top.

Seasonality supports a short of USDJPY in the near term.

Comment

A small short can be done here in advance, and then an addition once we get RSI-14 Overbought if that actually happens. There may be a final move up tomorrow to touch the 50 DMA.

Comment

30Y bonds are becoming oversold on the daily here with an RSI-14 hit. This has only happened one other time in the last 18 months.

Comment

Comment

Real 10Y yield shown (inverted) along with TIPS for reference.

Comment

I am adding to shorts here against the 50 DMA

Comment

Month CAM R4 + Wedge rejection. Looks decent. First target 103.75.
Comments
TheSignalyst
i like your chart layout and clean analysis mate. keep up the creative work here!
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