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Coleman: Bearish on USDJPY
Ian Coleman is looking to trade USDJPY. He says, "We are still holding within the large bearish weekly descending triangle formation. A daily AB=CD formation from 102.79 (4th June) to 101.23 (30th June) would take USDJPY to 100.70. This is the base of the aforementioned triangle and is our prime target in the days ahead. Intraday - The rally was sold and the dip bought resulting in little net change yesterday. Posted a Bearish Outside candle on the 1 and 6 hour charts. Selling posted in Asia. The 261.8% Fibonacci extension is located at 101.38 from 101.78 to 101.63. Preferred trade is to sell into rallies."
01:29 minutes
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