USDJPY EXTENDED OUTLOOK (SHORT)
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USDJPY SHORT
AS YOU CAN SEE ON THIS CHART I MORE SPECIFICALLY PAINT OUT A PICTURE THAT THE MARKET IS SHOWING ME ITS STARTING TO FORM. YOU CAN SEE THAT THE BIG PICTURE IS A SELLER THAT CAUSED A VERY SIGNIFICANT DROP IN PRICE FOR MONTHS. PRICE HAS BEEN RECOVERING IN A PULLBACK LONGER THAN IT TOOK TO DROP! MARKET HAD DISPLAYED A PEAK IN THE PULLBACK BY BUYERS DYING OUT AND SELLERS COMING IN. MARKET IS SHOWING A NOW LOWER HIGH (LH) AND LOWER LOW (LL) SEQUENCE. KEEP AN EYE ON THIS PAIR FOR WHAT THE NEAR FUTURE MAY HOLD!
AS YOU CAN SEE ON THIS CHART I MORE SPECIFICALLY PAINT OUT A PICTURE THAT THE MARKET IS SHOWING ME ITS STARTING TO FORM. YOU CAN SEE THAT THE BIG PICTURE IS A SELLER THAT CAUSED A VERY SIGNIFICANT DROP IN PRICE FOR MONTHS. PRICE HAS BEEN RECOVERING IN A PULLBACK LONGER THAN IT TOOK TO DROP! MARKET HAD DISPLAYED A PEAK IN THE PULLBACK BY BUYERS DYING OUT AND SELLERS COMING IN. MARKET IS SHOWING A NOW LOWER HIGH (LH) AND LOWER LOW (LL) SEQUENCE. KEEP AN EYE ON THIS PAIR FOR WHAT THE NEAR FUTURE MAY HOLD!
Nota
USDJPY IS AT A CRUCIAL POINT AT THE MOMENT. USDJPY IS SHOWING A SLOW HALT IN PRICE AT THE MOMENT AND WILL DISPLAY WHETHER IT WILL BE A LOWER HIGH OR NOT. THIS WILL TELL US IF THE OPPORTUNITY FOR A SHORT IS STILL PRESENT. SECOND OPTION WE COULD SEE AS WELL IS A POSSIBLE FAKE OUT TO THE UPSIDE BEFORE ROLLING OVER, IF THE MARKET WANTS TO SELL WE WILL NEED TO SEE SOME STRONG SELLER MOMENTUM. KEEP AN EYE OUT, CHEERS!
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