11/14/15 USDJPY on Track to 125.00 as USD CPI Approaches

FX:USDJPY   U.S. Dollar / Japanese Yen
110 2 6
USDJPY             forms flag pattern heading to USD inflation data release on 11/17.
Let's see if the 123.00 level will or will not hold.
Trade active: UJ push around 123.50. Last week's lost was all recovered.
Trade closed manually: Position closed due to massive Long covers in post Nov. FOMC section (Tokyo section.)
Comment: I would revisit this pair when price push beyond the 123.50 level again.
I like your view
+1 Reply

an hour ago
Comment. Now that we're out of the box , I think that PB testing of box top for support is the ideal thing.
The basic tenets of Technical analysis: SUPPORT & RESISTANCE.

Now, when that is done, I see 125 as the ultimate target. But 124 first
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