Two possible sell entries on the USD/JPY either from the R1 level once rejection has been established or once the price closes back below the pivot point. The stop loss shown on the chart is going to be indicative of the morning high. Give an eye on the update below to get the exact entry and stop-loss levels.
Fundamental:- some mixed to downside stocks during the close of the American session and the Asian session so safe-haven flows could strengthen the JPY along with some better than expected data coming from Japan. Although there is talk of tapering from the US I am not expecting to affect currency just yet as it is likely not to happen until August hence on a day trade USDJPY should see further downside.
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I have set a pending order to enter sell @ 109.28 stop loss 109.51 take profit 108.61
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Change pending order to:- Sellstop @ 109.45 stop loss 109.61 take profit 108.65
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Sell trade triggered
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still holding this position
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Very slow trade safe haven flows from the mixed to bearish stock market are not really showing in JPY or Gold. Moving to break even on this one
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Bit of motion coming into it now have moved stop loss to 10943