Comments on the chart. Another implication of this trade idea is there is the possibility of the stock market falling as a falling USDJPY
is usually a risk aversion trade. Gold
could also rise too as usdjpy
falls. There could be some extra volatility
this week as price takes on the MAs and immediate support areas. Normally this idea would be deemed a failed one when price takes out the top of the channel however I will walk away from the idea earlier than that. I will walk away if the top of the last bearish
candle is taken out. But that is me.