USD JPY GOING ON A MONTHLY SELL TRIP
Usd jpy under the impact of FEDS cutting rates and BOj hiking rates is under preasure. Falling from 160 , then 150 and now 140 on the horizon. If the rate cuts and hikes go as planned, then 130 will be unlocked as well. This is a journey on a monthly candle analysis and must be monitored on the same time frame.140 being a strong support will create difficulties for further drop unless it breaks hard. But the final destination should be near 130 if not 120 area. The wave indicator is clearly showing the bull wave coming to an end and there is more downside to come.
Traders with high leverages must have their own strategy on how to ride this wave but entering with a medium to low leverage would be the safe bet.
Stop must be higher than 150 and tp should be at 130 or 120.
This will take few months to complete. The only way for this to be canceled is for feds and boj policies to be canceled.
Traders with high leverages must have their own strategy on how to ride this wave but entering with a medium to low leverage would be the safe bet.
Stop must be higher than 150 and tp should be at 130 or 120.
This will take few months to complete. The only way for this to be canceled is for feds and boj policies to be canceled.
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