Potential trade setup for $USDJPY .
Potential trade setup for 
USDJPY .
We had a big blow out last couple of weeks. The evidence is more and more that Stock market might be entering a bear market. Which will makeUSDJPY go lower.
The risk is BOJ intervention. Looking at the technical, this is what I see. We broke through a Major level Head and Shoulder pattern around 116 . Now I am expecting to retest this level again before falling to 110.
Next week I am expecting we see a surge inUSDJPY run upto 116.30/40 level which co-incides with 50% fib level for recent fall. That's the level I will sell at.
Remember, if this plays out.. then we are expecting
GER30 to go up too. I am also looking to sell GER30 around 9745(if it gets there). And 
EURUSD should go down a bit before shooting up probably breaking 115 resistance upto 117/118 level.
This is just my thought and analysis only, don't take this as trading advise, Please take care trading out there.
USDJPY .We had a big blow out last couple of weeks. The evidence is more and more that Stock market might be entering a bear market. Which will make
USDJPY go lower. The risk is BOJ intervention. Looking at the technical, this is what I see. We broke through a Major level Head and Shoulder pattern around 116 . Now I am expecting to retest this level again before falling to 110.
Next week I am expecting we see a surge in
USDJPY run upto 116.30/40 level which co-incides with 50% fib level for recent fall. That's the level I will sell at. Remember, if this plays out.. then we are expecting
GER30 to go up too. I am also looking to sell GER30 around 9745(if it gets there). And EURUSD should go down a bit before shooting up probably breaking 115 resistance upto 117/118 level. This is just my thought and analysis only, don't take this as trading advise, Please take care trading out there.
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