SDMarik

More USDJPY action.

FX:USDJPY   U.S. Dollar/Japanese Yen
39 0 0
USDJPY             took a quick beating after it broke its support this week, the support line that it broke is also its .764 fib retracement so expect that to act as a very significant level of resistance once it gets back up there. However, it seems to have bounced off of its fib (.618) line for the second time now so we might have a little pullback to ride before the upturn into that big resistance.

Should be some good swing trades as we trade around and/or through these levels over the next few days. If you miss one don't chase, there will be plenty more trades coming up on this pair, if your're wrong don't flip flop there will be more trades here!

Keep your stops well defined and good luck!
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