Yen Picking up steam
Updated
Based on the Fibonacci Extension, CHF/JPY is looking to make a push to the 167.700 region.
For a while, sentiment had shown that CHF/JPY was in favor of the Bulls after having a 79% Short ratio verses 21% Longs. A contrarian signal. However, the longs began to accumulate and a liquidty sweep became apparent. We now could have a flushing of those Bulls in place. As most of the Bulls were short squeezers closing out their positions artificially pumping price. This move down could actually be true Market Makers interceding.
We shall see how this plays out.
For a while, sentiment had shown that CHF/JPY was in favor of the Bulls after having a 79% Short ratio verses 21% Longs. A contrarian signal. However, the longs began to accumulate and a liquidty sweep became apparent. We now could have a flushing of those Bulls in place. As most of the Bulls were short squeezers closing out their positions artificially pumping price. This move down could actually be true Market Makers interceding.
We shall see how this plays out.
Trade closed: stop reached
Price pushed higher taking out stop loss levels. Trade is invalid. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.