USDJPY-- Are you ready for the show(Fall to 109.01--109.08)

FX:USDJPY   U.S. Dollar / Japanese Yen
87 0 4
Pair has almost completed its another up leg in the zone 109.40--109.45.. Momentum Indicators are slowing down so let us be ready for the fall in the zone 109.01--109.08 where the current rally from 109.789 to 109.44 gives 61.8% retracement & possible support zone .
This fall(if happens as expected) could be picture to be framed. Let us wait & watch. Trade with care.
Current Price-109.370 (IST-15:30 Hrs             )
Comment: current rally from 108.789 to 109.44 is almost done
Trade active: Safe Traders can go short once pair goes below 109.30 ....for target zone 109.01--109.08. Regards
Trade active: Risky Traders who are short@109.40's should keep stop not more than 10 pips which will be 109.50 because pair is in buying mode & we are trading retracement ...logically we should trade longs only or to be safe trade below 109.30
Trade active: The pair is holding itself....as if something is going to happen soon...& very fast could crash 30 pips straight...I don't know but I am holding short with stop@109.50's...
Trade closed manually: Exit the Trade
Comment: Risky Traders ...book small loss@109.45--109.47...who ever taken short@109.40 &Trade short only below 109.30 else pair could explode on upside if moves above 109.50's
Trade active: Safe Traders we are short below 109.30...Trail your Stop loss@109.38 for Revised Targets-109.18--109.20 & 109.05--109.08
Trade closed: target reached: Safe Traders Pair kissed very close to 109.05--109.08.....Bang On 22 pips...As per earlier update we were looking for 61.8% retracement to join bull camp...look what happened ....Isn't that amazing we were making money on both the sides...
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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