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TomProTrader
Oct 19, 2016 11:55 AM

#USDJPY: Bears Have Steam- Downside Likely Out Of Range! Short

U.S. Dollar/Japanese YenFXCM

Description

Traders,

USDJPY showing weakness at previous resistance level. Price currently in a rounded top at a long term Fibonacci retracement level off of the bearish impulse seen previously. Price is likely to break the base of the rounded top after a dark cloud within the signal ignited the demand from bulls to bears. Move down could potentially be very strong.

I hope you have your own tested trading strategy to trade this move when it starts.

Best regards,
Tom Killick
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