With major resistance above, I went short USDJPY again around 110.65 with just a single lot. Let's see what the coming weeks has to unfold. NEWS ALERT - Japan hit by 7.5 Earthquake and followed by tsunami warning. May god help them and my prayers with them... on fundamentals Yen will attract safe haven money back. so expecting a quick hit on it.
USDJPY is at crucial point of make or break it. Already touching 0.382 retracement from June 2015 highs. I think we are done for this year but its worth waiting before taking any action. Aggressive traders may open a sell order with stop around 111 for a target of 103.5 or a buy order with a stop around 107.5 and target of 111-115
DISCLAIMER: I am short since 103.75 and adding more (averaging) at every pivot high / false breakouts (zero volume/no news) I see 100 in mid term and below 95 in long term and will remain short.. for a quick trade (2-4 days). Here is an idea... sell NOW - Stop at recent pivot high 104.90 and Close at 103.50