USDJPY

8 mag 2020

Interesting position this, there's a 4hr cypher pattern all but 6 pips. COT data suggesting more emphasis on the short side. Retail sentiment also 51% long suggesting more short side.

with a couple of local fib levels near we could see a push back south before completing the pattern and up again before it's next fall down. The DXY on the daily is looking to have a pullback, however, it could be possible to see some newfound USD strength early next week.


Please comment and share your own suggestions below, be great to read your thoughts.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stock, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

19 mag 2020

Trade chiuso: obiettivo raggiunto