USDJPY: Weekly uptrend fired
Updated
This is an update to my previous publication. We now have full confirmation of a weekly uptrend aiming for 110.141 by December 23rd or sooner.
If not long you can buy new daily lows, or dips to 102.8 after this week's close. Jumping in now, is not bad, but not optimal.
This uptrend probably implies that the smart money is getting into new leveraged positions for the last quarter of the year, largely bullish for equities, so, we might return to Yen, Bonds and Gold being opposite to S&P500 again in this risk on rally.
Good luck,
Ivan Labrie.
If not long you can buy new daily lows, or dips to 102.8 after this week's close. Jumping in now, is not bad, but not optimal.
This uptrend probably implies that the smart money is getting into new leveraged positions for the last quarter of the year, largely bullish for equities, so, we might return to Yen, Bonds and Gold being opposite to S&P500 again in this risk on rally.
Good luck,
Ivan Labrie.
Note
"Jumping in now, is not bad, but not optimal."If someone did, in profit already.
Trade active
Now is when you add.Note
Add to USDJPY longs again if we break above Friday's high: Note
(the add on trade already in good profit from entry)Trade closed manually
I'm out for now.Note
I got back in using a tight stop today, entry: 103.86, stop 103.59.Note
I banked short term longs before this drop, I held my long term entries, and bought yet more long term positions a day ago and the day before.Buying gradually on each daily dip.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Related publications
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.