AlexHillFX

USDJPY Sell Idea Due to NFP 020617

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
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USDJPY Sell Idea

LH formed and since then has been slowly declining.

Major key level at 111. Has had 9 attempts to close below 111
in the last 2 weeks before forming the lower high (LH).

Inverted Hammer /Regular Hammer is close of week candle for H4.

Daily close of Bearish engulfing so bias remains for me downside.

Expect to see Target 109.000 this week if we can have clean break of 111

NFP and Recent Yen Weakness may achieve this!