Over next 24-48 hours, I am expecting USDJPY to retrace into Wave 4 before shooting for Wave 5. On M5, a bearish head-and-shoulders is being completed. This will be a confirmation to enter short. In fundamentals, oil is rallying. This suggests a weakening USD.
SL: 108.9
TP: 107.25
SL: 108.9
TP: 107.25
Note
s3.amazonaws.com/tradingview/snapshots/4/47sWk00M.pngPosted wrong time frame.
Trade closed: stop reached
s3.amazonaws.com/tradingview/snapshots/x/XkPj6hSL.pngSorry, was asleep when the spike happened. There may be an opportunity to re-enter short once Wave 3 completes. However, the trade published here is now void as the SL has been triggered.
Note
s3.amazonaws.com/tradingview/snapshots/o/ObCUWvUE.pngWas able to close out a small profit on a correction after Wave 3. I would recommend closing out now unless you're following a different short trading.
Note
For those still bearish on USDJPY, follow the new analysis. It has been adjusted for the new Wave 5.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.