USDJPY Heads Up. Short Triggered on Daily Close <107.30

15 feb 2018

Short was triggered las night on daily close below 107.30 following posting on 11/2/18 ''Price is consolidating in a big and old triangle (assuming this has been drawn correctly), and the triangle is running out of space, which is a reliable signal of an imminent breakout. I am inclined to the downside break. Why? Because equities are under pressure universally and as investors seek for flight to safey, Yen is typically a strong candidate. I will enter into a short trade on a break of 2017 low @ 107.30 (daily close basis) and place stop ~ midway inside triangle @111.00 with 1st objective @ 98.90 (2016 low). This is a longer time frame trade idea''