USDJPY looks overbought. PMI as well as CFNAI is about to release, both look bearish. We should expect a drop to the bottom of the channel.
Near last week R1, daily R1
RSI 1H, 4H overbought
CFNAI looks bearish
Entry around 107.9
PT 106.63, 107.500
As a reminder, BoJ Interest Rate comes out this thursday. I expect it to be bullish, which will sink USDJPY. Of course, I could be wrong and skyrocket. Either way, look out for it.
Near last week R1, daily R1
RSI 1H, 4H overbought
CFNAI looks bearish
Entry around 107.9
PT 106.63, 107.500
As a reminder, BoJ Interest Rate comes out this thursday. I expect it to be bullish, which will sink USDJPY. Of course, I could be wrong and skyrocket. Either way, look out for it.
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Keep making the same dumb mistake of entering after session start