USDJPY - SHORT - RISK OFF - NEW WAVE COUNT
TECHNICAL STRATEGY
I am looking to take this short (after a pullback) after this has been rejected from the top side of this descending triangle.
I am also anticipating a new wave count and hoping to catch the 3rd wave.
DESCENDING TRIANGLE
RISK OFF SENTIMENT
Another thing that drove me to sell this pair is the fact that the CBOE Volatility Index has spiked it to level after a very long time which is initiating that we are currently risk-off.
I am looking to take this short (after a pullback) after this has been rejected from the top side of this descending triangle.
I am also anticipating a new wave count and hoping to catch the 3rd wave.
DESCENDING TRIANGLE
RISK OFF SENTIMENT
Another thing that drove me to sell this pair is the fact that the CBOE Volatility Index has spiked it to level after a very long time which is initiating that we are currently risk-off.