USDJPY ready for DeadCat bounce? then a leg down to 108 ?
UJ has been dropping hard with the stock markets and with gold rising.
And I think it has a little more running room, but should boucne a bit here.
.
Background:
This UJ story starts in early October 2018, with my search for the mythical ''top''
As the downtrend progressed, I started looking for a ''final leg'' down
For a while it seemed we had found a temporary bottom:
But then came the Stock market swoon, so it seemed to need one more leg down yet
Then another bounce when Trump-Xi talks were rumored to be making good progress
After the FOMC rate decsion, I was shorting all JPY with UJ target of 111.50
Then looked for abounce to short into 110.40
And now I am looking for 108
And I think it has a little more running room, but should boucne a bit here.
.
Background:
This UJ story starts in early October 2018, with my search for the mythical ''top''
As the downtrend progressed, I started looking for a ''final leg'' down
For a while it seemed we had found a temporary bottom:
But then came the Stock market swoon, so it seemed to need one more leg down yet
Then another bounce when Trump-Xi talks were rumored to be making good progress
After the FOMC rate decsion, I was shorting all JPY with UJ target of 111.50
Then looked for abounce to short into 110.40
And now I am looking for 108
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