USDJPY Short
Fundamentals:
- I like the Yen as a safe haven bet for stock investors. I think the Yen is over extended in its fall against the dollar, I suspect this has more upside risk than downside. Thus, I'm shorting the US Dollar against the Yen to implement this idea.
Quarterly:
- Top of its implied range.
Monthly:
- Largest up month since late 2016.
- The last time the market was at this level (2016) it sold off dramatically.
Weekly:
- Rising prices on decreasing volume
- Overbought (trend line) check stochastic to confirm.
- Macd lines have diverged quickly these last few weeks.
Daily:
- Looks like we hit a wall with these last couple days, I think this would be a good time to short with calculated risk above these highs with a mental or limit stop.
- I know volume in the forex market isn't really as accurate as it is with centralized exchanges such as stocks, but on the weekly, the tick volume from certain forex brokers (this is Oanda) can still be revealing.
I've been tinkering with my chart settings a little, I have 250 assets on my watch list, so forgive my recent changes if they're unfamiliar, all simple tools, the point is to gain the cleanest objective view possible across all markets, its always a work in progress as im sure it is for you.
Thanks for your support!
- I like the Yen as a safe haven bet for stock investors. I think the Yen is over extended in its fall against the dollar, I suspect this has more upside risk than downside. Thus, I'm shorting the US Dollar against the Yen to implement this idea.
Quarterly:
- Top of its implied range.
Monthly:
- Largest up month since late 2016.
- The last time the market was at this level (2016) it sold off dramatically.
Weekly:
- Rising prices on decreasing volume
- Overbought (trend line) check stochastic to confirm.
- Macd lines have diverged quickly these last few weeks.
Daily:
- Looks like we hit a wall with these last couple days, I think this would be a good time to short with calculated risk above these highs with a mental or limit stop.
- I know volume in the forex market isn't really as accurate as it is with centralized exchanges such as stocks, but on the weekly, the tick volume from certain forex brokers (this is Oanda) can still be revealing.
I've been tinkering with my chart settings a little, I have 250 assets on my watch list, so forgive my recent changes if they're unfamiliar, all simple tools, the point is to gain the cleanest objective view possible across all markets, its always a work in progress as im sure it is for you.
Thanks for your support!
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