USDJPY Short continuation: 250 pips possible for UJ
已更新
This Idea is to point out three possible targets for the UJ downturn.
I have been short for a while now, see chart shown below.
The fundamentals are still giving JPY strength.
- BOJ considering tapering/ending QE
- Japanese Bonds have a HOPE of non-Zero interest rates
- PBOC continues to deval the Yuan
The technicals indicate more waves downward.
- 2.618 fib extension of impulse down looks ready to burst
- After a 12345 impulse, an ABC is pretty much required.
- The fundamentals above came at a perfect time.
Will update this idea as things move.
Here is where I first started opening Short positions:
I have since added several additional positions, starting as scalps and then letting some % of a winner ride.
I have been short for a while now, see chart shown below.
The fundamentals are still giving JPY strength.
- BOJ considering tapering/ending QE
- Japanese Bonds have a HOPE of non-Zero interest rates
- PBOC continues to deval the Yuan
The technicals indicate more waves downward.
- 2.618 fib extension of impulse down looks ready to burst
- After a 12345 impulse, an ABC is pretty much required.
- The fundamentals above came at a perfect time.
Will update this idea as things move.
Here is where I first started opening Short positions:
交易進行
First short fired:註釋
UJ short making progress.I have moved the stop to BE on this position, if it survives I will take 50% profit at TP indicated, and try to carry the rest in my collection of UJ shorts.
註釋
TP hit.I have closed 50% of position, SL at BE on th rest, hoping to keep in my collection of UJ shorts.
手動結束交易
Closed all shorts on BOJ news.Looks like Yen pairs headed up for a while.
註釋
well my EW count was off, but first possible 'C' point hit 
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