DislikedI take back what I said about being bearish in USDJPY for me UJ is bullish and I will wait for any drop to buy the dips we should see 113 to 114 soon it might drop to 110.70 to 111.40 but that doesn't scare me the main direction is upIgnored
I actually agree with your earlier view on USDJPY being bearish. Well, for short-term at least.
USDJPY may potentially form a Double Tops.. yes, this is not confirmed yet.. but I also view its correlation with other JPY pairs, ie. CADJPY has earlier went down 140+ pips from its high; EURJPY also has went down 120+ pips; GBPJPY has went down 160+ pips; AUDJPY and NZDJPY also having some pullbacks now.
USDJPY seems to be lagging behind OR it is showing some resistance to JPY.. but if the Double Tops is later confirmed, to me personally then it is a great chance to ride the bear (as I missed shorting the other JPY pairs earlier). We'll see.
Cheers.