Fundamentally I have the USDJPY valued at 115-118. that's a conservative valuation and also a short term valuation. I think the USDJPY will consolidate at this level until the newyear and be somewhat range bound comparative to the GBPUSD.
technically:
I have a bearish bat forming at what I have the termination of wave 3 from my EW analysis. This also lines up with my time and price analysis.
I am long until about 115.20 where I think it will retrace slightly until a push to the upper 115 range and then consolidate.
This is just my humble forecast and we will see if I'm somewhat right. I'm not stuck to this in any way and will always trade the right side of the chart based off of price action!!!!
technically:
I have a bearish bat forming at what I have the termination of wave 3 from my EW analysis. This also lines up with my time and price analysis.
I am long until about 115.20 where I think it will retrace slightly until a push to the upper 115 range and then consolidate.
This is just my humble forecast and we will see if I'm somewhat right. I'm not stuck to this in any way and will always trade the right side of the chart based off of price action!!!!