jackcolafx

USDJPY Retracement.

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
UJ just broke the 111.850 weekly support last week and made a new high. But judging by the pattern it's printing right now, it does not have the power to stay there,so i'm expecting a nice 55 to 90 pip sell. My first target is a 61,8% fib retracement which lays at 111.350, but while I think it can break and fall lower, my second target is a daily support laying at a round number of 111.000. You could also wait for a break and retest of the consolidation box, if it suits you better.
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