USDJPY. Yen party is about to start

USDJPY bulls have their last chance to achieve something important. With DXY close to the top, there is a huge bearish divergence on Daily chart which should start working at some moment. Price above 107.5 would break this divergence but I seriously doubt this will happen

Will start building shorts next week, hopefully from 104.5-105, targeting 95 as first target and, eventually, 90-85 zone

Zlecenie aktywne:

Shorted 104.69 yesterday, it is still active but moved at breakeven already

Transakcja zakończona: osiągnięto poziom stop:

Trade closed at breakeven. Update to follow

Zlecenie aktywne:

Longed 103, moved to breakeven now. I think it will get to 107

Zlecenie zamknięto ręcznie:

Stopped out at breakeven

Komentarz:

DXY still hasn´t achieved the target of 100 ish so the shakeout continues. I post a chart below which shows a nice 1-2-3-4-5 wave structure. Eventually, shorts can be played from 108.40 or 111.30.

If next week there will be a correction in this pair, I´d say "buy the dip" but with a lot of attention as this still would be the part of a great shakeout which started back in June

Zlecenie aktywne:

Shorted 108.50, moved to breakeven. TP: 95

Zlecenie zamknięto ręcznie:

Stopped at breakeven