USDJPY ENTERING BEAR MARKET - SELL OFF FROM $130

2022年5月11日

I've been monitoring this pair and DXY for a few weeks now and have been waiting for a potential sell-off to occur, and I believe the time has come where UJ is transitioning from a VERY overextended bull market to now a huge bear market. Many pullbacks that occur now are discounted short opportunities. DXY is also at a critical resistance at $104 and is also overextended. After NFP and CPI with also the Biden speech, I have noticed volatility but the price always seems to pull back down, and it's mainly the sellers, preparing to sell off the pair, as JPY gains momentum aswell. Currently in a short from 130.4. First TP: 129, however, I will be holding/scaling as it can potentially reach 125 and eventually 120 within the year as dollar circumstances transition.