Comments on the chart. Another implication of this trade idea is there is the possibility of the stock market falling as a falling USDJPY is usually a risk aversion trade. Gold could also rise too as usdjpy falls. There could be some extra volatility this week as price takes on the MAs and immediate support areas. Normally this idea would be deemed a failed one when price takes out the top of the channel however I will walk away from the idea earlier than that. I will walk away if the top of the last bearish candle is taken out. But that is me.
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Excellent move down today. Price has taken out the MA area as well. The $ was summarily slaughtered today