On the technicals it is a simple AB=CD leg in play to the downside, a break of 110.4 will open up the remainder of the move.
For the macro side we have seasonality flows going on. Fiscal year end repatriation moves back to Yen, we are right on time for a mid-march kickoff... something those from the forex channel will know we have been tracking for some time.
Good luck
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First targets hit 110.4!
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We are starting to reach the end of the road here, well done all shorts!
Trade closed: target reached
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A long ride here, finally clearing targets. Well played shorts.