Supply zones are forming above current price. USDJPY is down and looks like it's in position for even more action to the downside. Will likely see a pause right around 1800, but this baby's on it's way down to right around 1750-60. If the 1750-60 range doesn't hold, get out the bear strategy and make sure you don't fall into the bull trap either! Stay short, this is likely a big correction in my book.
Note
By far, my worst prediction. Should've listened to the sentiment index at the time which was telling me that the crowd was short and that I should've taken the contrarian side. This market does not mess. We have since soared, and soared, and soared to new highs. The trend IS your friend (until the bend at the end).
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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.