It's not over until the "rubenesque" lady sings . . . profit taking - weak hands - waiting for VALUE to reappear . . . it really won't be clear for another few weeks.
It's been a good run and the FOMC are somewhat cautious over Trump's fiscal policies . . . rightly so as he's a bit of an unknown quantity but that's not new news. Combine the run with Trump and you have hesitation to buy in at these lofty levels and naturally some profit taking takes place and weak hands wobble.
VALUE is what real money traders look for . . . it's better to buy those £100 shoes when there's a discount 25% 30% 50% off in other words. The trick is knowing when the discount is at it's best or whether it's going to turn into a "fire sale".
It's a bit of guess work to be honest . . . FIBS, MAs, work through the time frames, look to the left, a news item even and blah, blah, blah.
In my previous posts about USDJPY, I have warned of an expected pull back . . . it is needed to bring VALUE and BUYERS back in if PRICE is eventually to go higher and all I've got on my charts at the moment is a first logical target of the 100SMA weekly.
Although I remain a LONG in my analysis, I have to go to NEUTRAL from a psychological point of view for the near term until PRICE action becomes a little clearer.
It's been a good run and the FOMC are somewhat cautious over Trump's fiscal policies . . . rightly so as he's a bit of an unknown quantity but that's not new news. Combine the run with Trump and you have hesitation to buy in at these lofty levels and naturally some profit taking takes place and weak hands wobble.
VALUE is what real money traders look for . . . it's better to buy those £100 shoes when there's a discount 25% 30% 50% off in other words. The trick is knowing when the discount is at it's best or whether it's going to turn into a "fire sale".
It's a bit of guess work to be honest . . . FIBS, MAs, work through the time frames, look to the left, a news item even and blah, blah, blah.
In my previous posts about USDJPY, I have warned of an expected pull back . . . it is needed to bring VALUE and BUYERS back in if PRICE is eventually to go higher and all I've got on my charts at the moment is a first logical target of the 100SMA weekly.
Although I remain a LONG in my analysis, I have to go to NEUTRAL from a psychological point of view for the near term until PRICE action becomes a little clearer.
