USDJPY Short

Expecting USDJPY to break into a sell again, charting is similar to my most recent posting. Within in the last week UJ completed the previous support cycle down to price 132.000 and slowly drove back up to resistance areas. I am expecting the downward cycle to begin again as the dollar continues to lose steam without too many bullish gains. MA convergence indicators are showing strong signs of downward movement as well.

Sell Entry: 133.700
Targets: 133.460 | 133.200 | 133.000 | 132.750 | 132.500 | 132.200
Support: 132.000

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Comment:

Stop Loss above price 134.500

Trade closed: stop reached:

Stop loss reached for now.