USDJPY - Short from 119

Congratulations mate

Great analysis, but don't you want to wait for close under(previous support) 118.369 for a confirmation to downside?

short bias was a,ready confirmed 3/4 weeks ago with a bearish engulfing. An attempt was made to push higher which then resulted in a doji a week before followed by a bearish close this week. So the analysis is based on this primary context. Of course one could wait for a further correction but that would result in reduced profits. And from the above, notice the rising trend line break and retest. Stops are placed there because if price makes a close higher then it invalidates the short bias

I see what you mean. Great analysis. Have you already been short or when will you short?

Looking to enter from 119. I dont trade too many pairs and especially those with negative swaps. Im well positioned to the short side in nikkei225 cfd. And incidentally most equity indices are heading to a minor decline the next week or two which gives added confidence to yen long side.

Heres a sample: http://www.justatrader.com/2015/01/week-2-2015-wrap.html

Oh, so you would wait for it to pull back up to 119 then short?btw, nice website you got going on there

excellent :)

Congratulations for the Bullseye of the Week! :-)

What where? I don't see any mention? Was it in the newsletter?

Yes