Bearish Indications
• As per Dow’s theory trend is bearish.
• Key resistance is at 129.570
• 4H Time-Frame overall trend is bearish.
• Seasonal Analysis of USDJPY remain Bearish in January.
• However Seasonal Analysis of JXY for past 10 years January remain bearish.
Bullish Indications
• 4H Time-Frame Higher Low is formed and confirmation of Bullish...
- Institutional actions preceed price in past 2 years
- COT is inverted to better show correlation between shorts and price
- 2021 was consolidation phase where institutions accumulated shorts
- First 9 months of 2022 was mark down phase
- Driving price to a level where shorts could be distributed with a healthy profit
- Last quarter of 2022 was profit-taking...
CHF is picking up strength against CAD, while lesser to JPY. Also looking at recent hammer and rejection wicks. Around this time of the year we may be looking at a bullish trend. Specifically paired with increasing interest rates.
