USDJPY - How to play the short position

FX:USDJPY   美元/日元
From the swing low point on October 16, price has continued to climb to the 114.430 extremely key resistance level . At this point we can see signs that the current bullish wave is beginning to lose momentum.

I am looking for three things to validate a short trade setup:
1) A break of the trendline on a higher timeframe (D1)
2) A re-test of the 1.00 fibo level (price of 113.248)
3) A price action signal confirming rejection of the 1.00 fibo level ( engulfing bearish candle, shooting star , etc)

First target is 0.786 level (111.984). Second target is 111.070 - a few pips above the 0.618 fibo level. Move stop loss to break even once first target is hit. Stop loss will most likely be around the 113.500 level

评论: Price has reacted exactly as expected per analysis. Now waiting for price action trigger before going short.
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