Short

USDJPY Short

Updated

Over next 24-48 hours, I am expecting USDJPY to retrace into Wave 4 before shooting for Wave 5. On M5, a bearish head-and-shoulders is being completed. This will be a confirmation to enter short. In fundamentals, oil is rallying. This suggests a weakening USD.

SL: 108.9
TP: 107.25

Note

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Posted wrong time frame.

Trade closed: stop reached

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Sorry, was asleep when the spike happened. There may be an opportunity to re-enter short once Wave 3 completes. However, the trade published here is now void as the SL has been triggered.

Note

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Was able to close out a small profit on a correction after Wave 3. I would recommend closing out now unless you're following a different short trading.

Note

For those still bearish on USDJPY, follow the new analysis. It has been adjusted for the new Wave 5.

UnknownUnicorn769459

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