Hi there, we are still short on USDJPY. Although it has formed couple of more bars for upside but that has not changed the bigger picture. We are looking for the strength on YEN pairs across the board. We may see some short term buying on USD pairs because of the rate hike but after that we may see fall again on USDJPY for medium term. In case price clear break up and leave this longer term corrective structure and set up for the next impulsive wave then we will analyse the break up and will look for the possible change in pattern formation. Trade with care and use only that much risk which you can afford to lose. Dont Trade with that money which you cant afford to lose. Every Single trade is not a winning trade so use risk according to that.
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Watch breakout if don not breakdown then sell it again from top.
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Price is not falling the way we were anticipating it is falling correctively. Watch another leg down. If you are holding short from top then careful. In case if it is not going to continue to the downside then we will look for sell again from the top. Here is the update.
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Amazing move. So finally This sick pair started to move aggressively. We are leaving the corrective structure. We will watch for another TCP for next sell. Good Luck fellows those are holding their short and those who are not wait for my next update.