khansalarehsan

A great opportunity for Shorting USDJPY

Short
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Friends,
Here are the reasons for shorting USDJPY


1) This is Yen weighted average. See where it is now. Basic wedge formation rule suggest a bounce at the lower band of the wedge .




2) Yen bonds bouncing and stronger Bonds means stronger Yen.




3) Yen Yields are pulling back





4) JXY H&S breakout and now I am expecting a visit to the neckline


See doji on daily



Comment:
Comment: Beautiful Shooting start on this pair is the main ingredient for having a nice weekend ;)
Have a great weekend Friends.
KHAN
Comment:
Comment: Is this a false breakout of the previous day's high?

Comment: A bounce expected before hitting the target

Trade closed: target reached

Comments

this is looking beautiful now, thanks for the insight as always ---its super helpful
Reply
khansalarehsan ChartsMechanic
@ChartsMechanic, Thank you my friend. Indeed it is beautiful.
Reply
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