UJ has just broken the neckline of an inverted H&S and retested the neckline. It is a great Long opportunity.
코멘트
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The reason for the above trade is that Yen has been trying to appreciate all March but has not been successful. Eventually bounced after touching the wedge upper band and I expect Yen to depreciated over the next a few weeks.
코멘트
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Then above chart was the YEN average weighted chart.
코멘트
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Finally not to forget the Nikkei after false breakout of the wedge formation to the downside, it turned and broke the other side of the wedge formation which is the long side. Stronger Nikkei is equal to cheaper Yen.
코멘트
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In terms of USD also see the 10Yrs bond. See the red line which has been acting as a strong support and resistance in the past. Once again here it is acting a strong support. I would expect USD to gain in the next a few weeks. Again this is another reason for UJ long trade.
코멘트
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and finally see the last chart, the average weighted USD. If you are going to guess which direction would you guess ? :)
코멘트
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Time to breakout?
코멘트
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happy days
코멘트
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Target removed for now. I expect a lot more :)
코멘트
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Reasons for removing PT : 1) completion of inverted H&S on Nikkei. As you know YEN and Nikkei usually moving against each other. Now Nikkei heading up means we have cheaper YEN which is good for our UJ long trade. Right? see the chart below 2) See the false breakout of the lows folowed by break of the other side of the key resistance level. Good for UJ Long trade. Right?
코멘트
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Nice breakout of the H and S on Yen futures too. Cheaper Yen is what we need for our UJ long trade. Right?
코멘트
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According to this post, target filled but as mentioned yesterday I removed the PT. Target moon lol
코멘트
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You know I did not exit UJ. Such a huge momentum for Nikkei that even did not retest the Neckline. Weak YEN and of course with stronger Dollar UJ is a big bull