FxWirePro: Shorting Dollar this week is absolutely absurdity – USD/JPY on the verge of forming “Dragon fly” targets above 121.560

Being right or wrong doesn't matter as long as your portfolio is able to generate positive cash flows as per George Soros.

How much more money you made when you are right and how much less you lost when you are wrong is all that matters.

There exists the role of shrewdness of our speculative or hedging strategies using futures, options, forwards, swaps or what not.

Our last call on USDJPY has been success full in tracing out intermediate downswings.

On 7th we had a bearish call on this pair, now see their effects, please follow the bellow link just for a brief glance.

http://www.econotimes.com/FxWirePro-USD-JPY-likely-to-retest-122-before-14th-December-upon-multiple-bearish-signals-126774

It's not mystical nor magical but sheer research, we stated until 14th it has exactly taken u turn to show bounces.

Apart from the Fed meeting the main movers this week will be US CPI (Tuesday), German ZEW (Tuesday), Euro Flash PMI (Wednesday) and German Ifo (Thursday).

Technical glimpse: USD/JPY

At present, the pair gives the candle resembling dragon fly pattern which is a bullish indicator.

It has tested supports at 120.60 levels to day as well as on Friday.

An attempt of %K crossover below oversold zone makes bulls alert at an early stage of reversal in this week.

The first ever Fed's rate hike move since 2008, it will now want to prudently harmonize market prospects with their own projections.

Eventually, we will suggest not to go short on dollar this week no matter what.