USD/JPY Short. Is the dollar done here? And is Japan ascending?
I have to give credit to Julian Brigden for this outline. So please look up his recent Blockworks interview on youtube.
I am happy to further develop on his observation by pointing out that what he observed as a "crash pattern" is in fact a diamond reversal pattern.
I enclose a comparison to what I consider the "classic" manifestation of a diamond reversal which is the Nasdaq100 index during the 2001 recession.
We also had recent significant-scale diamond reversals on the SPX in 2021 and on Bitcoin if you would like further references.
There is a significant RSI divergence that has been in place since 2022 on the weekly chart.
I think that this means that a dollar pullback is imminent and a surprise strengthening on JPY due to them getting close to breaking out of their deflationary depression.
This could also coincide with the return of inflation that I have been expecting.
I am shorting this outline and I intend to expand my position if the pattern is not violated. I will be more aggressive as the outline develops.
For further information on how I discovered this you can google-up Julian Brigden's interview on Blockworks.
Happy hunting!
I am happy to further develop on his observation by pointing out that what he observed as a "crash pattern" is in fact a diamond reversal pattern.
I enclose a comparison to what I consider the "classic" manifestation of a diamond reversal which is the Nasdaq100 index during the 2001 recession.
We also had recent significant-scale diamond reversals on the SPX in 2021 and on Bitcoin if you would like further references.
There is a significant RSI divergence that has been in place since 2022 on the weekly chart.
I think that this means that a dollar pullback is imminent and a surprise strengthening on JPY due to them getting close to breaking out of their deflationary depression.
This could also coincide with the return of inflation that I have been expecting.
I am shorting this outline and I intend to expand my position if the pattern is not violated. I will be more aggressive as the outline develops.
For further information on how I discovered this you can google-up Julian Brigden's interview on Blockworks.
Happy hunting!
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