USD/JPY Short. Is the dollar done here? And is Japan ascending?I have to give credit to Julian Brigden for this outline. So please look up his recent Blockworks interview on youtube.
I am happy to further develop on his observation by pointing out that what he observed as a "crash pattern" is in fact a diamond reversal pattern.
I enclose a comparison to what I consider the "classic" manifestation of a diamond reversal which is the Nasdaq100 index during the 2001 recession.
We also had recent significant-scale diamond reversals on the SPX in 2021 and on Bitcoin if you would like further references.
There is a significant RSI divergence that has been in place since 2022 on the weekly chart.
I think that this means that a dollar pullback is imminent and a surprise strengthening on JPY due to them getting close to breaking out of their deflationary depression.
This could also coincide with the return of inflation that I have been expecting.
I am shorting this outline and I intend to expand my position if the pattern is not violated. I will be more aggressive as the outline develops.
For further information on how I discovered this you can google-up Julian Brigden's interview on Blockworks.
Happy hunting!
