USDJPY - MAJOR BREAKOUT TO THE DOWNSIDE - SELLING RALLIES

I like this setup, this breakout to the downside is very important in my book.
I will be looking to sell moves into 110.20/40 area and place my stop around 110.75 as shown on the chart.
Target should be at least 109 and also an extension into lower 108'ish is very likely.

For now i am waiting for a correction higher, i will update this idea as the market develops.

Thanks for sharing and following.
Blessings to you all.

Comment:

The 200DMA was broken lower. This is in my opinion very crucial and opening the way for some big drops, except if the market manages to retake the 200DMA higher.
Right now its looking bearish for sure, we will see what will happen over the coming days.

Trade active:

Sell 109.92
Stop 110.27
Target 109 / 108.50

Comment:

Moving stop to 109.92. Risk free trade.

Comment:

selling again usdjpy at 110.20 stop 110.55

Comment:

Taking this position off with no loss. It took too long, the signal is not active anymore.