UPDATE: USDJPY: What Next? All I Can Say Is....WT*???

Wow. Negative news yet, positive moves. Well, I hope anyone who followed my trade at least took the +34 pips and moved stops to B/E. So no-loss on this trade.

Anyway, it seems the wave 3 could not wait for the E point on the ascending triangle. Usually, when that happens, the next move is pretty strong. In this case, strong enough to pass right through the upper trend line of the triangle which had multiple touches before and was pretty strong resistance. So what now?

As you can see, the bearish cypher has been completed BUT I won't play it. Not now.

Now I'll wait for a retrace back down to that structure and look for a structure trade opportunity. I won't "chase the move". I'll let it come to me. In the meantime, I'll be re-evaluating the situation and see how best to take advantage.