USD/JPY TRADE SETUP (FAVERING SHORTS BELOW 107.50)

Jul 25, 2016

Japan's trade figures come in, its exports were higher for June but its trade balance was also higher then expectations. Doesn't look as the strong Yen heart exports so much.
USD/JPY Daily Chart:

Jul 25, 2016

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Let's see if we can break and close below the trend line. Looking to add to my position.

Jul 25, 2016

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Jul 25, 2016

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Looking Good Have some support around 105.50

Jul 25, 2016

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105.50 comming up

Jul 26, 2016

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I will be tacking off a quarter off my position around 105.00 We could see a retracement back to 105.50

Jul 26, 2016

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My limit order was hit this morning for the remainder of my position @104.10 I think we might see a retracement or consolidation from hear. There is US data, Consumer confidence and new home sales coming out in 15 min 8AM EST. there's still downside potential and I will be looking to re enter shorts. My new bearish invalidation level @106.72