Fading the short term trend

FX:USDJPY   U.S. Dollar / Japanese Yen
123 7 2
Here we have a correction against the major down trend and it hits resistance from trendline and fibonacci level 0,786 ( an important leven for currency pairs.
I belive we have a short opportunity, unless the price action breaks out and dont fall down again.
Exactly! I believe it will retest the 110.4-110.5 area
Maybe :) But a stop loss above those levels will still give you a sound risk reward ratio
TradZ traderknudsen
Just like you said, It tested the fibo level and retraced back again :) hoping for a break down on monday :)
TradZ traderknudsen
I believe it will gap up then back down lol
TradZ TradZ
On Sunday that is
TradZ TradZ
Didn't I say It will gap up then back down lol Big Gap@that! 4rm 110.185 - 110.428:)
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