USDJPY made some pretty sharp move the last 2 weeks.
We got a breakout to the 112.200 Level where resistance on the higher timeframe stopped the movement.
Price dropped back down, forming a false breakout and Sell Pinbar on monthly timeframe.
The Sell-off at the Equity markets fueled this move massively.
Japanese Investors liquidated their assets and needed to convert the Dollar into Yen.
YEN is typically a save haven and with panic in the markets, demand is high.
I think it is not over yet and USDJPY will move lower the next months.
Visiting the area where it broke out the last time as Trump got elected. (lining up with election again )
From there Wave C should be finished and another bull run will start.
We got a breakout to the 112.200 Level where resistance on the higher timeframe stopped the movement.
Price dropped back down, forming a false breakout and Sell Pinbar on monthly timeframe.
The Sell-off at the Equity markets fueled this move massively.
Japanese Investors liquidated their assets and needed to convert the Dollar into Yen.
YEN is typically a save haven and with panic in the markets, demand is high.
I think it is not over yet and USDJPY will move lower the next months.
Visiting the area where it broke out the last time as Trump got elected. (lining up with election again )
From there Wave C should be finished and another bull run will start.
