USDJPY has been a raging bull and moved up quite quickly. However everything that goes up finds it way down. Here are the reasons the bull run is over.
1) There is a huge harmonic pattern in play now.
2) Monthly, Weekly, Daily RSI are overbought
3) Daily Divergence is in play.
The trade will not happen immediately. We need to observe this for about 2-3 weeks to be sure that there is absolute weakness. Until then, I will continue to go long as the trend is up.
Whenever the JPY strengthens, the Stock market sees huge declines. All the JPY pairs are showing weakness as hinting at a JPY strengthening. We have seen this in AUDJPY, NZDJPY, EURJPY and GBPJPY. CADJPY and CHFJPY are showing weakness now so all stock traders should be wary of "SELL IN MAY AND GO AWAY".
Good luck!
1) There is a huge harmonic pattern in play now.
2) Monthly, Weekly, Daily RSI are overbought
3) Daily Divergence is in play.
The trade will not happen immediately. We need to observe this for about 2-3 weeks to be sure that there is absolute weakness. Until then, I will continue to go long as the trend is up.
Whenever the JPY strengthens, the Stock market sees huge declines. All the JPY pairs are showing weakness as hinting at a JPY strengthening. We have seen this in AUDJPY, NZDJPY, EURJPY and GBPJPY. CADJPY and CHFJPY are showing weakness now so all stock traders should be wary of "SELL IN MAY AND GO AWAY".
Good luck!
