FX:USDJPY   U.S. Dollar/Japanese Yen
Similarly to GBPJPY             , USDJPY             seems to have topped after moving past the vix             spike 75% retrace support level .
On the daily chart we can observe bearish rgmov signals and on the weekly we can see that price has gone under 123, and failed to produce new highs after testing a quarterly range expansion bar's 50% level.
It seems like this is the start of a strong bear market in this pair, so I'll be looking to go short on a retracement.

Invalidation/stop is a retrace past the 61.8 level of the first wave down, which I think will be over the weekly mode.
(I'm not positive is wave 1 down is finished, probably soon).

Again, going short here once we get the aforementioned retracment, is a very significant opportunity, which I don't intend in missing.

Good luck, and brace yourselves...wild ride coming.

Ivan.
Comment: Might take a while to hit the target.
snapshot


Looking good.
All SLs at 121.212.
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IvanLabrie PRO IvanLabrie
Moved stop to 120.773.
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IvanLabrie PRO IvanLabrie
Trailed stop to 120.014. Price seems to be oscillating rather fast, we might have a move down from here.
If stopped, no big deal, we can reenter before NFP.
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IvanLabrie PRO IvanLabrie
Scale in at 120.24 filled.
Pending sell limit at 120.72725, SL: 121.22.
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Trailed stops to 121.22.
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IvanLabrie PRO IvanLabrie
Placed scale ins at 120.377 and 120.89 but didn't get a fill and probably will never get it.
+1 Reply
Finally starting to slide down. Let's watch how price action behaves to determine wether to scale or not, and where.
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Same as GBPJPY:

snapshot
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