FX:USDJPY U.S. Dollar/Japanese Yen
Anybody that trades the USDJPY will be familiar with this market's key levels and round numbers. As can be seen in the yellow box, for 24 weeks straight price failed to close below the 101.000 level. Approaching election we knew volatility was likely to pick up in this pair and post-election we would be able to gain an insight as to where price would be heading. Following the price action on the lower timeframes we took our long position AT 103.988 and price ripped through our targets AT 107.699.