AlkalineFX

USDJPY - Side by Side

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
Nothing but consolidation all of last week, this is highly visible on the daily timeframe , all that can be seen is side by side candles followed by wicks. If the market wants to continue like this we will simply work with other pairs, however, if we see a clear break below of the structure marked followed by a re-test and rejection, this could open up the possibility of a short position down to the next key level marked.

COT Data - 56% Long

Comments

That was an awesome prediction, Im still a bit lost by this one
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You were pretty bang on here Alkaline!
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@Rasper, Shame i missed it! Oh well many thanks bro!
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Nice setup... Why is it short. The NFP prove a strong dollar this month
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AlkalineFX Godswilla2000
@Godswilla2000, I'm still bearish bias on the dollar until the DXY can prove to me it can break 93.75, wishing you a great trading week ahead my friend!
+1 Reply