USD/JPY contrarian trade to the upside
I'm just shooting a guess here.
During consolidation downtrends, we expect the price to touch the downtrend and come down.
But the price action is seemiling quite bullish.
The last couple of candles formed have established somewhat a strong support with a potential W FOrmation...
So if the price breaks above the neckline, we could see a bit of strength for the USD.
That is not good for stocks and markets, so I hope I am wrong.
Target 152.54
During consolidation downtrends, we expect the price to touch the downtrend and come down.
But the price action is seemiling quite bullish.
The last couple of candles formed have established somewhat a strong support with a potential W FOrmation...
So if the price breaks above the neckline, we could see a bit of strength for the USD.
That is not good for stocks and markets, so I hope I am wrong.
Target 152.54
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)