USDJPY COT STUDY - LONGS BEING DISTRIBUTED

- 2020: 1 Year of accumulating SHORTS, LONGS used to depress price
- Q2-21: Distributing SHORTS while Accumulating LONGS
- Take profit on SHORTS, use profits to to accumumate LONGS
- Take some profits on LONGS to consolidate price
- 2021: Accumulating LONGS (3 impulses)
- 2022: Q2+Q3 = Mark up price, Q4 = Distributing LONGS
- COT indicates that more LONGS need to be distributed
- Sell high: for max profits price needs supported for distribution at a relatively high price
- Seasonally JAN'23 should be sideways to down
- Sell-side liquidity (buyers) below 130
- 127.50 is Weekly demand-zone, more willing buyers expected at that level = support