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Short

USDJPY coming into area of high resistance

OANDA:USDJPY   USD/JPY
108 0 11
After that incredible rally last week which we discussed in this idea:
Bullish USD/JPY PA
, USDJPY             has finally reached an area of high resistance and could see a pullback. First minor support comes in at the the previous Fib at 108.45 area and then major support from 107.60-106.95. (Green Rectangle )
Comment: Pair hit the 50% Fib
Comment: Lower timeframe trendline broke on Earthquake news. Dont usually post these here but its a nice example of what to look for
snapshot


Also if anyone is wondering why the Yen strengthened on the news this is an article about the 2011 earthquake

https://www.theguardian.com/business/2011/mar/17/japan-crisis-yen-surges-nikkei-falls
Comment: Testing the 50% Fib again
Comment: Testing the Fib for a third time. It will be very surprising if it doesn't break. As long as we don't get a close above the Red box the idea is still valid
Comment: Broke above on very good durable goods data. Now triggering stops
Comment: Area held for two days. Waiting for some structure before next idea
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