USDJPY short idea: UJ and stocks down some more?
Updated
Based on risk sentiment (gold, stocks, oil), looks like UJ might be headed further down.
I think we might have already completed the wave 4, and preparing to start wave 5.
But wave 4 could go a little higher yet and still be perfectly valid EW process.
The Nikkei looks to be following a perfect path to a wave 5 coming
and lately UJ has been tightly correlated with equities (usually is but right now more so than usual)
I think we might have already completed the wave 4, and preparing to start wave 5.
But wave 4 could go a little higher yet and still be perfectly valid EW process.
The Nikkei looks to be following a perfect path to a wave 5 coming
Note
Dollar is super strong after FOMC meeting minutes. But here we are at the crucial decision point Zoomed in: the fib zone was precisely noticed, but I dont think it will stop the move
Note
UJ still testing the resistance zone above Note
Nice rejection this far Note
The Japanese stock market is following EW and Fib waves perfectly 
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