This idea is derived from higher time frame price action. The market is bearish and just finished a retracement.
My thoughts on UJ are based on the fundamentals that moved the market to the downside (Evergrande, The China Real-estate Giant). Even though the Dollar and CHF are typical "safe havens" during perilous times...Not even the good ole green back can stand-up forever against this 310 Billion dollar Default. The technicals signaled the sell 2 weeks ago with a shooting...
The Fundamentals have pushed the market down beginning in November with the default of Evergrande (The Chinese Real-estate Giant) With several more Billion dollar payments due and no sign of help from the Chinese government its safe to say that we will head down for the foreseeable future. With that in mind...the technicals are in place to trade this puppy down....