I'm publishing this to keep it because the trade is done.
What happened?
As the market anticipated the FMOC minutes, USDJPY went for about 6 hours straight. Volume decreased considerably 30 minutes before the release and it hit a double top formation. As soon as the minutes were released, it went slightly up and then after 10 or so seconds went straight down breaking all MAs. Was able to get short and get out around 113.975 which was .75 above the low before the anticipation.
Think it was classic buy the rumor sell the news. I'm biased bullish as always but at this point I'm waiting for a good set up.
What happened?
As the market anticipated the FMOC minutes, USDJPY went for about 6 hours straight. Volume decreased considerably 30 minutes before the release and it hit a double top formation. As soon as the minutes were released, it went slightly up and then after 10 or so seconds went straight down breaking all MAs. Was able to get short and get out around 113.975 which was .75 above the low before the anticipation.
Think it was classic buy the rumor sell the news. I'm biased bullish as always but at this point I'm waiting for a good set up.