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MarcellusLUX

USD/JPY retests broken trendline, down trend may resume

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
MarcellusLUX  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis USDJPY usdjpyshort usdjpyanalysis usdjpydaily usdjpysell
15
4
trendanalysis chartpattern beyondta usdjpy usdjpyshort usdjpyanalysis usdjpydaily usdjpysell
USD/JPY fell quite heavily last week. Since then, there has been a moderate pullback.

Currently, price has retested the broken trend line. If USDJPY, doesn't manage to break above
the broken trend line convincingly, then there is a chance for a drop back to 109 level.

I would recommend selling USDJPY@110.50-110.70 with SL above 111 and TP at 109.20
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