My Current Active Open Trades: USDJPY, EURUSD, AUDUSD, AUDNZD, GBPNZD, USDRUB, XAUTHB
USDJPY – Bearish While Below Key Structure (daily chart)
After bouncing around in a large corrective structure (between 111.50-115.20), the USDJPY has now broken below this key structure which creates a ST & MT bearish bias IMO.
For now traders should look to stay short while the price action is below this structure/112 on a daily closing basis IMO.
If this structure holds, 110 is on deck next. However if this structure folds and we get a daily close above 112, then there could be a false break setup so watch for both options.
USDRUB – False Break Setup Continues to Profit (4hr charts)
As I talked about …