Iridium
Short

USDJPY BULLSIH BEFORE NY SESSION WILL IT HOLD

FX:USDJPY   U.S. Dollar/Japanese Yen
155 0 3
USDJPY             SHOWING SOME VERY BULLISH SET-UPS PRIOR TO NY TRADING. IT HAS SHOWN RESISTANCE OFF THE PARALLEL TREND CHANNEL FROM PREVIOUS SWING HIGH PRICE OF 110.00. USDJPY             ALSO BROKE A WEDGE PRICE PATTERN ,FORMED A MORNING STAR REVERSAL CANDLESTICK PATTERN AND CONFIRMED A DIVERGENCE TRADE SET-UP ON THE 12-26 MACD . THIS IS CERTAINLY VERY BULLISH YET I AM CURRENTLY LOOKING FOR A REVERSAL BELOW 107.75 ON USDJPY             AS THIS GIVES THE MOST OPPORTUNITY GIVEN THE AMOUNT OF LONG POSITIONS CURRENTLY AT THIS LEVEL. FOMC MINUETS AT 2:00 DOVISH FORWARD GUIDANCE ON RATES COULD BE A CATALYST TO PRESUME A WEAK DOLLAR AND WASH OF CURRENT USDJPY             LONGS.

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