I think we have a clear top signal here in $USDJPY, which aligns with the price action in Gold and $DXY.
I'd reccomend a short position with a wide stop, and a lot of patience. You may enter averaging in during the next 3 days, or over the course of a week to a month, depending on the timeframe you're trading from. Daily, I'd use a stop over 113.85, and average in.
The weekly signal failed to hit its bullish target for this pair, which implies weakness once we break below a weekly low next.
Best of luck,
Ivan Labrie.
I'd reccomend a short position with a wide stop, and a lot of patience. You may enter averaging in during the next 3 days, or over the course of a week to a month, depending on the timeframe you're trading from. Daily, I'd use a stop over 113.85, and average in.
The weekly signal failed to hit its bullish target for this pair, which implies weakness once we break below a weekly low next.
Best of luck,
Ivan Labrie.
