FX:USDJPY U.S. Dollar/Japanese Yen
Price just reached the top of a weekly downtrend in a bigger patter, also, a daily formed and price reached the D extension @ -0.27 fib, this means that a pullback is likely. How big this pullback will be we don't know. We don't know either if price will retrace now or waits the @ -0.618 D extension. But, if price breaks the 4h uptrend swing (see the pic below) we can go short whit the first target the next and second target the external (weekly) . If price breaks the weekly downtrend to the upside we'll wait a retest on that to go long.
Trade active: Trade active and already in profit. We'll short again after the breakout of the next trend line:
Trade closed: target reached: Target reached. We'll short again we have another breakout.