USDJPY: OK, It rejected 118, I like SHORT, but WHERE ?
Last week, after clearing the triangle pattern, USDJPY fell agressively to 118 key support but U/J rejected this level and traders considered this level as a chance to BUY USDJPY at lower level.
The bounce of USDJPY mainly came from the strong rally of US Equity market.
However, I don't the rally of stock market is sustainable, and I still favor a SHORT of USDJPY.
Look at on the chart, I see three trend lines and resistance level converge at 120 level in one point.
AND THAT IS THE POINT I WANT TO SELL USDJPY.
The bounce of USDJPY mainly came from the strong rally of US Equity market.
However, I don't the rally of stock market is sustainable, and I still favor a SHORT of USDJPY.
Look at on the chart, I see three trend lines and resistance level converge at 120 level in one point.
AND THAT IS THE POINT I WANT TO SELL USDJPY.
