Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

USDJPY – Made a Top Formation

33 sec read

Finally, the USDJPY strengthening came to an end from a short-term perspective. Last Friday USJPY rallied to 151.94 levels surging past the August 1990 high followed by a high-intensive sell-off from the 32-year high confirming two bar reversal with high volume.

USDJPY – Daily Charts

Intensive Intraday Sell-off

Intensive selling started during Friday’s US Market Session and resulted in sharp vertical cuts dragging the price from 151.5 levels to an intraday low of 146.18 followed by mild intraday recovery for the rest of the session.

USDJPY Intraday Selloff

Monthly Extreme Indications

Monthly charts are running extreme indications and the Fridays Selloff brings the question what are the odds of a medium-term trend reversal? Maybe higher odds are what one can gauge from past experience using extreme sentimental indicators.

For me, it looks like the momentum upside reversal finally came to an end. What do you think will USDJPY will enter into consolidation or a complete trend reversal in place?

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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