FX:USDJPY   U.S. Dollar / Japanese Yen
Potential shorts on USD/JPY             .

On the daily time frame we have seen significant resistance at 118.600 after multiple rejections and the bulls appear to have lost momentum. On the lower time frames we have had a 50% fib rejection which if a CTL breakout occurs i will be looking to go short.

First target set at -27% fib extension
Second target set at -61.8% fib extension which coincides with daily support.

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