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thedailychartist

USDJPY to see further downtrend?

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
thedailychartist Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Wave Analysis
2
0
waveanalysis
Currently anticipating a follow through of the recent trend line break. But we may see a short term rally to 111.00-111.40 region so we will check how the market reacts to that price if and when it does. Looking to short at that price.
Comment:
Price just hit 111.00 so watching out for market reaction from hereon. Looking for a sell setup. Anyone out there looking to short this too or is the market USD bullish at the moment? :)
Comment:
Price level did not fully hold and market has moved sideways since then. Pair seems very indecisive despite positive USD economic news (NFP, etc.). I did take one sell setup and was taken out at the very tight SL. I'm still looking for bearish reversal setup unless I see a strong move to the upside of 112.
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