USDJPY: Leader In This Crash Now Possible ToppingThere isn't enough evidence to set up this trade because we can't establish USDJPY is in a downtrend. But my hypothesis is
that since it was the leader in the crash of the general markets then this will likely top first. This suggests that this is possibly
topping here now. Though I'm no longer an Elliottician I use the patterns and so the hypothesis is to look for an ABC
pattern and set an order near the red line with a stop of approx 20 or so pips. So a 1% risk on 20 pips you must calculate your lot size. Again this is a risky trade as there is not enought evidence to have more certainty but hey manage risk and we good.
If this trade goes good then we could infer that the general markets have topped for the present moment.
