USD/JPY sell for a clean 370 pips!

Everyone keeps talking about this pair being a buy this coming week, if you use common sense you can see that we are in a corrective structure. Forex pairs spend 70% of their time in corrections and only 30% in impulses, so being able to identify a choppy looking correction as we have here from a clean impulse is key to being on the right side of the market. We have bearish divergence at a key level in this wave B. When i see a break of the minor yellow channel containing current price action i will sell. If it breaks through the blue major support it will be a confirmed C wave.

On the other hand, if an Asteriod hits japan this weekend the red support line will be the broken and that will be the signal for a strong buy.