USDJPY . . . Asia was confident

FX:USDJPY   U.S. Dollar / Japanese Yen
Seems the Asian markets were confident to take it higher . . . I read through a few posts across the boards last night and was surprised to see so many people advocating "SELL SELL" . . . since I joined and read the first "SELL" recomendations it's 700+ points up and as much as people want to will it down, the TREND is in charge and not the individual, so always best to keep on the side of the TREND !!

Targets - where you take FIBS from is always subjective but in this case I've taken it from the November 2015 High to the Brexit bottom. Obvious targets are the elipses (look to the left trade to the right) which coincide with the 50% FIB retrace, and as a final gesture I've plotted a FIB extension from the first ZIG-ZAG (black line). Traders prefer uniformity in moves and the FIB extension to 1.168 seems to be too good to dismiss.

112 was my target when I first joined and it remains a valid target . . . and although math/maths falls just shy of that mark, traders like round numbers so 112 it is.

LONG on any meaningfull pull backs . . . there are intraday markers and if I get time I'll post them later.


PLan a trade and trade a plan . . . good end to the week :)
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