USDJPY Reversed on the MACRO from a Bearish Butterfly PCZ on the Monthly and has since gone down about 15% as seen here:
But recently it's had a bit of a rally as the DXY showed a bullish pattern that it indeed bounced from here:
However it would seem that the USDJPY is showing quite a bit of weakness with the MACD confirming Hidden Bearish Divergence and Crossing Bearishly after price was rejected from the 200 Day SMA and the PCZ of a more Local Bearish Bat and could be a sign that the rally in the DXY will be coming to an early close; but more specifically it could be showing that the JPY will start to show Dominance in the FX Markets again and that this Local Bearish Bat could be what sets off the Bullish Continuation of the JPY Dominance.
But recently it's had a bit of a rally as the DXY showed a bullish pattern that it indeed bounced from here:
However it would seem that the USDJPY is showing quite a bit of weakness with the MACD confirming Hidden Bearish Divergence and Crossing Bearishly after price was rejected from the 200 Day SMA and the PCZ of a more Local Bearish Bat and could be a sign that the rally in the DXY will be coming to an early close; but more specifically it could be showing that the JPY will start to show Dominance in the FX Markets again and that this Local Bearish Bat could be what sets off the Bullish Continuation of the JPY Dominance.
