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Short

USDJPY 4H Short after Trendline Bounce

FX:USDJPY   U.S. Dollar/Japanese Yen
31 0 3
I sell USDJPY0.67% here because we have bounced off a major channel trendline which finally ended a correction by breaking the rising wedge to the downside. At the moment we are at the retest phase so this trade is somewhat aggressive. You may wait until the last bar's low has been broken to wait for some more confirmation.
The target is approximately at the 50% retracement level of the upward correction.
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