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USDJPY: Failed break vs Real break. Short the wedge break

FX:USDJPY   U.S. Dollar/Japanese Yen
166 1 1
Today, US Retail Sales was negative and couldn't beat the forecast. This proved that global slowdown begin to have affect to US economy.

With the negative of Retail Sales, likely US CPI             tomorrow will be negative too.

While market is worrying about profit slump in stock market, all elements contribute to a incomning selloff of US equity market : A strong correction in the near term is what I expect to Stock market.

USDJPY             as a result is the victim of Stock selloff.

I think USDJPY             should be trade lower.

Look at on the chart, I see a failed, but the break today I consider as a REAL BREAK.

I've waited for 2 months for this break.

I choose the downside for USDJPY             right now.

And the target I choose is 117.

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This is definitely a real break, we just need a good confirmation on the daily candle. Nice Post
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