06 June 2011

USD/JPY : Near Breakdown ?

  • Monthly : Downtrend
  • Weekly : Bumping against bottom of a 9 months sideways range now. If we punch through, it could be a fierce and sharp move down.
  • Daily : Current move looks like a new leg down.
  • Trade : Initiated tiny short USD/JPY at 80.25 as feeler trade. That way if we do break down suddenly, I am mentally already the right way round. Sometime a mental headstart makes all the difference.

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