ForrestForex

USDJPY Short

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FX:USDJPY   Dólar Americano/Iene Japonês
This could be a great short for UJ. This bullish impulse has to retrace at one point or another, and I think this could be a great spot for this current uptrend to take a breather. We have a bullish bat completing at 120.522, and a .786 fib level at 119.987 (measured from the last significant high in the channel to the left at 125.846 (red arrow) to where the most recent significant low was (green arrow)). I will be watching price action if the bat completes. I will be looking for at least 3 confluences to confirm my entry.
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