AndrewFx2020
Short

USDJPY - Continued USD Weakness Will See Price Hit the Floor

FX:USDJPY   U.S. Dollar / Japanese Yen
96 0 4
We are rapidly approaching four (4) key levels, which if broken, will result in a minimum 500 pips waterfall. On the weekly chart, between 12/15/14 and 18/01/16, price bounced off a range of around 50 pips (116.082 - 115.561).

If we break this key level, then It's going to be all downhill from here, until price reaches 110.091 (Higher-high 29/09/14).

Finally, Fridays sessions ended with a Doji (https://www.tradingview.com/x/nN8e74zO/). Therefore, the market might be eyeing off this level. Or, on the other hand, this Doji could mean we are about to take off for the 125 level and beyond.

I am going to take a short at 115.40 and ride it down to 110.050.

Regards,
Andrew.
Comment: BTW... I'm not suggesting that this price level will necessarily be broken this week. It looks like we may see a retrace in general bullish USD sentiment and then continue the bearish trend.
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