that's a nasty candle we are witnessing.
Under every other "normal" circumstances this whole picture would be regarded as SELL:
a) great 5-waves rally
b) losing momentum, negative divergence on the RSI
c) 12% away from 200d SMA, so even only slightly revert to mean could be adoptable
d) after negative divergence on the MACD, the trigger line has been crossed to the downside
e) just because Abe-san "wants" inflation, doesn't mean it's coming overnight.
f) right now we are a bit on a "risk-off" attitude with EUR weakening, global stocks are off their highs, Gold advancing everything ever so slightly...so in this respect JPY and CHF used to be sought after.
why not now ? why not retracing a little towards 89-91 area before the major reversal uptrend to 120 resumes...
Under every other "normal" circumstances this whole picture would be regarded as SELL:
a) great 5-waves rally
b) losing momentum, negative divergence on the RSI
c) 12% away from 200d SMA, so even only slightly revert to mean could be adoptable
d) after negative divergence on the MACD, the trigger line has been crossed to the downside
e) just because Abe-san "wants" inflation, doesn't mean it's coming overnight.
f) right now we are a bit on a "risk-off" attitude with EUR weakening, global stocks are off their highs, Gold advancing everything ever so slightly...so in this respect JPY and CHF used to be sought after.
why not now ? why not retracing a little towards 89-91 area before the major reversal uptrend to 120 resumes...