Update On USDJPY SELL Trade 145 Was then Line In Sand.......

Just a quick update on the USDJPY SELL position last week where I wrote in the post that iit looked like 145 was the level to be wary about Japan intervening in the market as on both occassions price hit this level last week there was strong warnings from Japan, today the market pushed up towards 146 and Japan stepped in to Buy YEN and Sell dollar.

You can read my previous posts on what was likely to happen on the USDJPY and to be very cautious going LONG at the levels the higher timeframe charts is the best place to look for clues and were the market will go next especially in HIGH volitily markets that we have had this year because the big moves happen on the big charts not the small timeframes.

I am currently in the short position on the USDJPY after closing 50% of the position around 141 and will hold the remaining position down to the 139 target and below