AbhishekHSinghCMT
Short

USDJPY- Possible retracement on short term

FX:USDJPY   U.S. Dollar/Japanese Yen
22 0 4
If pair goes below 109.75--one could take short for targets 109.45--109.48 which is 38.2% of the current rally from 108.76 to 109.89 & look for up push & then a fall again in 3-waves making some decent profit as shown in chart for short term. Remember 109.89...one should be long. Regards
Comment: for short term shorts ...109.91 is key resistance ...beyond which one should turn longs else first going below 109.75 & also below 109.65 can add some 20 safe pips in the zone 109.45--109.48. Regards
Trade active: Short trade is active ......for targets 109.45--109.48......Remember UJ going above 109.91--one should go long. 109.91 is the stop for shorts taken@109.75
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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