Technician
Short

USDJPY: Time for a Correction

FX:USDJPY   U.S. Dollar/Japanese Yen
1278 35 11
Update: first target hit, moved stop to break-even
Closed first half at first target= +90
Closed second half at 102.11= +74

An outside bar on a test of 1.618 extension level and potential reversal zone for a bearish Crab Harmonic pattern . The pattern's target is near the 38.2 retracement level at 101.00. A more conservative target at the low of the outside bar at 101.96. A break above the high of the bar may negate this setup.

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very nice pattern!
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I prefer to close my short term as price has broken-out of an hourly falling wedge.
snapshot
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Technician TOP Technician
**close short position
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AncientM Technician
But price is still in that range....i.e. ups and down without any directional run despite of the yesterday's good US data!
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Yeah, but my stop loss was at break-even for the second half, so it was going to trigger stop.
I am biased to hit and run mentality :).
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huntingsniper Technician
Very good early warning for Friday's big jump!
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huntingsniper huntingsniper
I like this technique
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thanks but what about now ?
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