And it's done, target 2 reached, we didn't have any position running for this last leg lower but we already took some profit last week and it's always nice to see the analysis playing out anyway

Don't forget to keep buying the dips especially now that Coronavirus worries are fading away from the markets, the next few weeks confirmed cases will likely slowdown, recovery rate will increase and China will push upbeat positive news to keep their markets supported, which means risk assets like USDJPY will edge higher

Just a heads up, don't buy the dips blindly, first take into consideration the market sentiment (is it risk off or risk on, currently it's risk off) then look for retails what they are doing now (they are starting to buy, went from 89% shorts this morning to 79% shorts, which means they are switching to longs which is now what we want to buy)

So you can start to see that USDJPY can pullback a little more before the dip becomes attractive, and from a technical perspective, we have seen a risk on/ risk off pattern in these weeks, with the early mid week (Monday to Wednesday) risk on and the late mid week (Wednesday to Friday) risk off.

What does this mean?

It means that USDJPY is interesting to buy ONLY in the early week from Monday to Wednesday, which means that now it's too early to buy the dip and early next week it might be the good moment (if the Coronavirus story doesn't get worse during the weekend).

We are capitalizing on this late week risk off pattern with some EURJPY shorts, if you want to learn more about trading market sentiment, macroeconomics, geopolitics, retail sentiment, institutional activity and commercial flows while following our trades with exact entries and exits and having access to a private community of professional traders, being a private network members is what you need to step up your game and trade comfortably with the right info and signals.

We have just opened 2 extra seats for the private group this month with a special discount, text "I WANT TO JOIN" @JayRally to receive the discount code.

If you need help with some terms, for instance, if you don't understand what risk on/risk off means please don't hesitate and ask in our public chat, we are ready to answer your questions.

https://t.me/BeSomebodyFXchat

Discount code expires when the market closes, if you want to know what the discount is you can text @JayRally

We have been asked many times how the private network works and what are the benefits so we have prepared a small post with a few screenshots:

https://besomebodyfx.com/what-we-do-in-the-private-network/

The next enrolling will be in late March and one one discount code is left, first come first served.

Our best entry level is showed in the third chart above, we will probably look to enter anyway if price doesn't reach our buying zone and keeps showing bullish momentum.

Recently the S&P500 and USDJPY has been well correlated, with the recent USDJPY bullish leg we highly expect the S&P to follow to the upside and fill the gap possibly hitting new all time highs too.

First target for USOIL reached at 53, looking at price action looks like we might get a pullback from here before a new push higher towards the 54 level, we have taken our profit on the private network and will look to re enter at the new support zone

If you didn't forget to buy the dip this week on USDJPY good job, funny enough we missed this week trade but there will be more opportunities to buy

Gap filled, target reached in the S&P500, quick +10 points, we had a 3400 target from early Feb and seems now in reach, if you are long protect your position and take your profit at 3400

If you are long US indices on this then take your profit, price lost momentum for the break and chatter about a few big sell orders coming in

Don't say we didn't tell you to get out of US indices because a few big sellers where stepping into the market

Temporarily moving away from this trade, market sentiment shifted to risk off after Coronavirus cases jumped in Italy and Iran, no reason to keep OIL longs in this environment