USDJPY short idea: UJ and stocks down some more?

17 oct. 2018

Based on risk sentiment (gold, stocks, oil), looks like UJ might be headed further down.

I think we might have already completed the wave 4, and preparing to start wave 5.
But wave 4 could go a little higher yet and still be perfectly valid EW process.

The Nikkei looks to be following a perfect path to a wave 5 coming

and lately UJ has been tightly correlated with equities (usually is but right now more so than usual)

17 oct. 2018

Note

Dollar is super strong after FOMC meeting minutes. But here we are at the crucial decision point

Zoomed in: the fib zone was precisely noticed, but I dont think it will stop the move

17 oct. 2018

Note

UJ still testing the resistance zone above

18 oct. 2018

Note

Nice rejection this far But I am not confident it will go much lower. Am watching risk sentiment again.

18 oct. 2018

Note

The Japanese stock market is following EW and Fib waves perfectly

now waiting to see if it bounces up from that 4.618 or cuts through