USDJPY - D1 - Suggested Short

29 May 2016

Countless attempted in the H4 that this pair was unable to break out of the bear channel. CCI is below 100, if Monday it opens with a CCI bar lower than the previous, this will be a good RR short trade.

30 May 2016

Not

UJ has broken out of the bear channel on the monday afternews mad rush. I would foresee Uj will returb back to 110 to retest the broken resistance channel and if the resistance becomes the new support, i would see that achieving 112 for UJ is seemingly possible.

However, taking note that the breakout of the channel is accompanied by low volume, it is building up a bearish divergence therefore, i still hold my stand that this pair is short bias.