USD/JPY TOP DOWN ANALYSIS
Price Action (Technical Analysis): Price is flowing in a Descending Parallel Channel, i'm anticipating price to continue in its channel until reaching our Support Zone
around 101.000. If our E Wave is properly set-up, it can give us our next push down completing our Elliot Triangle Waves also being our next Short Idea since we are in a deep downtrend.
Fundamental Analysis: After reviewing all the data presented from last week with Wall Street dumping 3 Major Indexes leading this pair to drop over 200 points. We have to be aware that the Greenback potentially will continue to be depreciated as word goes around the dollar may cute rates again before 2020. The Yen is already projected to come over a previous PMI of 51.9 to 52.3 which tells us the Yen is in for more of a Hawkish Policy.
around 101.000. If our E Wave is properly set-up, it can give us our next push down completing our Elliot Triangle Waves also being our next Short Idea since we are in a deep downtrend.
Fundamental Analysis: After reviewing all the data presented from last week with Wall Street dumping 3 Major Indexes leading this pair to drop over 200 points. We have to be aware that the Greenback potentially will continue to be depreciated as word goes around the dollar may cute rates again before 2020. The Yen is already projected to come over a previous PMI of 51.9 to 52.3 which tells us the Yen is in for more of a Hawkish Policy.
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