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ShirokiHeishi

Looking to test the Kijun-sen as profit taking ensues

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
ShirokiHeishi Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
7
3
Notes on chart, these are just my thoughts as I do not as a rule trade the Yen real often.
Comment:
Yeah, I think I would be short here, WPR(9) is overbought as price entered the 110.667-113.589 zone (arguably support turned resistance) while volume seems exhausted.
Comment:
That was pretty fast and violent, tighten stoplosses and exit if touched or target reached of 107.90
Trade closed: target reached:
We hit the initial target price of 107.90 today...I am happy with this and am out, as I do not stay in yen trades too long no matter what.

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