Technical Analysis/Trade Ideas/USD/JPY

USD/JPY: Still no sign of a top forming

Very little pullback from yesterday’s highs in USD/JPY and option players are still noted buyers as they undergo major restructures. Technical resistance at 87.55/60 (61.8% of 94.90/75.60) should encourage some profit taking but overall the bull-trend seems to be in complete control.

(If an hourly high forms near 87.60 then I will try a quick contrarian short with a tight 40 pip stop).

  1. Sean i’m nervous for that short entry level cuz i dont see market moving to 87.60, last days by this hour we should already be +15-30 pips

    lack of fireworks from japan..

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