USDJPY, weakening of USD. downtrend past April 2017 low.
Analysis on USDJPY
Looking for a short opportunity below 108.300
1. double top at 114.400
2. 'M' formation gives an indicator for more possible shorting of USD against YEN.
3. Further weakening of USD as per the trend for 2017
This has a 60% chance to play out, it may remain in the channel like it has through 2017 between 118.635 and 108.300. I do see a chance here for a short until September 2017 if it plays out the way I am assuming it does.
Good luck!
Looking for a short opportunity below 108.300
1. double top at 114.400
2. 'M' formation gives an indicator for more possible shorting of USD against YEN.
3. Further weakening of USD as per the trend for 2017
This has a 60% chance to play out, it may remain in the channel like it has through 2017 between 118.635 and 108.300. I do see a chance here for a short until September 2017 if it plays out the way I am assuming it does.
Good luck!
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