USDJPY I would love contrarian views on this analysis, so I encouragement disagreement.I closed my longs from ~143 @ 144.64 ( a trace premature) and entered a short @ 144.74. I think it is going to pop upwards towards the downward trendline at ~145.12 (I have another short order there) in line with the BOJ announcement and then retrace until FOMC on Wednesday, where who knows what dumb thing will be said. On the higher timeframe charts we are clearly in a triangle.
The next "bump" upwards will create bearish divergence on many indicators on shorter timeframes.
I am generally a bull overall.
I don't think there is any question the "bullish case" is strong, for clarity, and break that downward trendline on the Daily chart. I just don't think it will be until after a retracement.
Fire away.
