claydoctor

USDJPY sending mixed signals

FX:USDJPY   U.S. Dollar / Japanese Yen
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USDJPY has reached, for the 3rd time, a major support level , and consolidating. The chart says it wants to go higher from here, but world events are causing the VXX up, volatility , and that is either supressing the next leg up, or will cause a break of trend up, and if it does that, we have two targets to head downside for, and a whole new look at this market. 3rd case, we just tread this line for a while, waiting for a catalyst, which could be the first signifiacnt earnings reports, setting the tone for the next 2 weeks, which BTW, could be the most significant earnings reports in years. THESE NEXT TWO WEEKS ARE HUGE, JUST HUGE, AND WATCHING EARNINGS WITH VOLATILITY , could be a day trader's dream.

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