UsdJpy: Price At Crossroads. I am testing the downside

Short

U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)

Updated

FX_IDC:USDJPY U.S. Dollar / Japanese Yen

Comments on the chart

Comment:

We finally got some downside after a brief breakout to the upside. Thanks to the bad US data today the idea was saved and I did not lose money on this one. I am still looking to the downside. Fundamentally the markets will have to factor in the reduced probability of multiple rate hikes. Bonds should rally and DXY should fall

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