IvanLabrie
Short

$USDJPY: Looks toppy here...

FX:USDJPY   U.S. Dollar / Japanese Yen
I think we have a clear top signal here in $USDJPY , which aligns with the price action in Gold and $DXY .
I'd reccomend a short position with a wide stop, and a lot of patience. You may enter averaging in during the next 3 days, or over the course of a week to a month, depending on the timeframe you're trading from. Daily, I'd use a stop over 113.85, and average in.
The weekly signal failed to hit its bullish target for this pair, which implies weakness once we break below a weekly low next.

Best of luck,

Ivan Labrie.
I was considering a long here? I think we are near 3 month lows, and with PM Shinzo Abe winning and BOJ holding firm on the low rates it certainly bodes well for the carry trade.



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