USDJPY- Sell Setup- A short term top@113.89 is in place

Nov 28, 2016

Current Price@112.28

Likely a short term top is in place@113.89- I am keenly watching for that lucrative sell setup where UJ looks to move initially to 111.15-111.35 zone where it could find next support or profit booking going below 112 or shall be looking to sell on a bounce in the 112.40-112.50 zone which is 61.8% pullback of the current fall from 113.20 to 111.35

Strict Stops@ 113.35

Short Term Divergence at top@113.89


Previous Analysis- Got in the bulls shoes at 110.85

Nov 28, 2016

Note

17:01 Hrs 28th Nov2016

AUDUSD Analysis

Last Price@0.7465

AUDUSD is moving in the desired direction from 0.7365

Nov 28, 2016

Trade active

19:13 Hrs 28th Nov2016

Last Price@112.65

Suggested that we will look for selling in 112.40-112.50 zone - UJ has stretched a little bit upside so taking sell is risky & if it starts moving above 113.30 swing high -it will try to go close to previous high@113.89 or even higher.

So avoid any sell in current scenario & we shall wait- keeping in mind that the bulls are still active

Nov 29, 2016

Trade active

18:26 Hrs 29th Nov2016

Last Price@112.90

113.35 -Strict Stoploss should work wonders - UJ just went close by to 113.13-just now only 17-20 pips away- likely falls if goes below 112.79 & sustains or falls below the rising blue trendline.

Nov 29, 2016

Trade active

20:12 Hrs 29th Nov2016

Last Price@112.89

Recent low@112.80

The magic of 113.35 - UJ takes U-turn with just 1 pip remaining on the top - downside just bounced from 112.79- magical levels likely some bounce & fall below 112.79 will continue the fall for UJ