TRADE: USDJPY: Completed bearish cypher (+495 pips possbile)

FX:USDJPY   U.S. Dollar / Japanese Yen
I am already SHORT on this pair from 125.00. I went SHORT after the negative NFP figures came out yet this pair headed up when it should've went down. Not to get into any fundamental reasoning for this kind of PA (it doesn't matter), when I saw this happening, the PA signaled bearish . So I took SHORT position when it hit 125.000 expecting that to be resistance. Also, I knew that this bearish cypher I posted about 20 days ago was now filled.

Because I am expecting a large move down in a new downtrend corrective wave, I am inclined to hold on to my SHORT positions though for the long term. But I am posting the TP1 + TP2 here as I will be closely monitoring the trade to decide how much profit I will take off this cypher .


Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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definitely yes, shorted this last night based on that setup although I based my actual entry on a 2618 at 124.67, I think UJ and dollar index may fall very soon

EURUSD is rallying, euro across the board really... and oil as well so usd is likely to drop
thank so much
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