Sforex

USDJPY: OK, It rejected 118, I like SHORT, but WHERE ?

FX:USDJPY   U.S. Dollar/Japanese Yen
213 0 3
Last week, after clearing the triangle pattern, USDJPY             fell agressively to 118 key support but U/J rejected this level and traders considered this level as a chance to BUY USDJPY             at lower level.

The bounce of USDJPY             mainly came from the strong rally of US Equity market.

However, I don't the rally of stock market is sustainable, and I still favor a SHORT of USDJPY             .

Look at on the chart, I see three trend lines and resistance level converge at 120 level in one point.

AND THAT IS THE POINT I WANT TO SELL USDJPY             .
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