Great idea on usdjpy and glad that we have the same bearish view. Prices seems to be mimicking price action seen through November 2017. Currently, one of the main support areas is at 112.25, and prices might break through that support should history repeat itself. Fundamentally, Japanese investors are buying USD-denominated assets unhedged and with the intense tightening of US financial conditions, the USD is holding up well. That said, with the Fed likely to produce one of the most dovish hikes in recent memory, altering its forward guidance and lowering its dots plot projection.
Please take a look at our idea and let us know what you think.
tradingview.com/chart/USDJPY/K6d2tnYv-Is-this-December-2017-all-over-again-Déjà-vu-anyone/
Banoo
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@Pepperstone,
I have seen your Idea and liked it. This Market is bearish based on Chart Technik, but I think, this Setup is risky, because I expect an increase in American interest rates.
Good Luck
djmitchb
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Looks like a hammer and rejection of the low on nov 29th. Looks long
Banoo
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@djmitchb,
I wait until the Market open on Monday. The opening Point will show a lot.
Banoo
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I had some Mistakes on Entry Point. So I published it again.
Please take a look at our idea and let us know what you think.
tradingview.com/chart/USDJPY/K6d2tnYv-Is-this-December-2017-all-over-again-Déjà-vu-anyone/