Yen has been gaining strength meanwhile the Loonie has slipped a bit on the heels of negative news last week. I suspect this to complete the "W" pattern here and could possibly do a trade on C->D leg of it.
Will continue to monitor.
Big news day for US. I'm expecting stagnant numbers resulting in a slight dollar sell off.....should result in a UJ retest of previous support line followed by a hard bounce. Long term UJ projection is strong. I could see a retest of the 114.78x area. Solid 1:1 RR
Potential 2168 trade......double top confirming indicating reversal, downtrend confirmation came with three 4 hour bars downward after the second retest. I expect the price to hit .618 retrace with an entry of 115.820. Previous resistance could become support at 114.172. SL is 70 pips higher than the previous highs to prevent stop hunting. Positive risk...
