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- Mar, 19 USDJPY: Prices Stall at Major Channel Top
- Mar, 12 USDJPY: Bulls Push Prices to Major Channel Top
- Mar, 05 USDJPY: Exit Short as Positioning Hints Gains Ahead
- Feb, 26 USDJPY: Remain Short as Sellers Regain Momentum
- Feb, 19 USDJPY: Prices Rise to Threaten Stop-Loss, Channel Top
- Feb, 12 USDJPY: Selling to Resume Following Test of 90.00 Level
- Feb, 05 USDJPY: Stay Short as Selling Pressure Intensifies
- Jan, 29 USDJPY: Remain Short as Bears Look for Momentum
- Jan, 24 USDJPY: Short Trade Taken as Prices Clear Support
- Jan, 22 USDJPY: Push to New Lows Threatened as Support Weakens
- Jan, 15 USDJPY: Deeper Losses Threatened as Prices Test Support
- Jan, 08 USDJPY: Stand Aside on Conflicted Technical Positioning
- Dec, 22 USDJPY: Bullish Correction Continues to Unfold
- Dec, 11 USDJPY: Bounce Looks Likely at Major Support Level
- Dec, 07 USDJPY: Volatility Continues as Prices Search for Direction
- Nov, 27 USDJPY: Japanese Yen Outperforms Against US Dollar
- Nov, 20 USDJPY: Prices Inch Lower to Challenge Major Double Bottom
- Nov, 13 USDJPY: Prices Prepare to Test Trend-Defining Support
- Oct, 23 Dollar / Yen Bullish Correction Continues, Sell Entry Ahead
- Oct, 16 US Dollar / Japanese Yen Bullish Correction Underway
USD/JPY
Strategy: Pending Short
We initially suggested three weeks ago that a bullish USDJPY correction was on the way after seeing positive RSI divergence ahead of the major double bottom at in the 87.09-88.23 region. As expected, prices broke resistance at the top of a channel established from the August swing, tested just above the 92.00 level, and reversed lower. The correction has been guided by a minor rising channel; the pair has put in a Piercing Line bullish candlestick formation at the bottom of this channel, suggesting that another move toward 92.00 is possible before bearish momentum resumes in earnest. We will remain on the sidelines for now as an attractive entry opportunity presents itself.
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