Hope you took last week friday’s plan on shorting this at the role reversal at 111.500. Though we have vital economic data from the US this week, keep an eye on the number. Here’s commentary on this week’s FX data, Think.Ing

UsdJpy Daily Chart

Price has reached its conservative Monthly swing target at MM1. This lies within the Fibzone.

UsdJpy H4 Chart

Lat week's weekly swing from WPP was achieved at 110.00. At the beginning of the week I sold off the 21 Moving Average as it also acts as dynamic resistance, For another opportunity one can possibly look for a short opportunity from the top of the descending channel price is trading within.

UsdJpy H1 Chart

Price continues to edge move to the downside through a series of lower lows and lower highs. Price is currently within a sell zone. an overbought stochastic at DM3 would give an opportunity to sell.

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