That USDJPY turn looks to be confirmed with a break of a potential ending channel in confluence with the Fib 50% and failed retest of the previous Pennant formation. A solid bearish move on the last two daily candles of the week in line with a late stocks drop is boding well for a sustained medium term bearish phase for this pair. This may be at odds with other pairs for a few days or so but I expect USD to turn bearish sometime next week, in which case I see this pair dropping hard, which would be in line with the EWT set up of a wave 3 down. A continued period of stocks weakness would add to the momentum on this pair.
Looks like we are getting that relief rallyvon Gold and Silver, which is in line with my A-B-C retrace bearish move road map. If this continues according to the road map then the current rally is a wave B. When it concludes there will be a strong wave C down and this is the point to Short if the mood take you. This is coinciding with both a short term rally on USD (DX) and a late bearish move on stock indices on Friday. I expect the bearish stocks move to continue for a bit, especially on non US large caps to complete their wave Bs. We may see a correlation conclusion of these wave Bs between stocks and precious metals. I also think USD DX will rally a bit further, with GBPUSD in particular putting in a strongish bear move in a 1-2 retrace. All the main USD pairs except with the Yen are likely to be bearish vs USD.
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