Gone short USDJPY based on price action and the double top (needs to break 101.90 to validate). Also if it remains below 102.35 at 4 pm London time my system generates a sell signal. I am again jumping the gun a bit but I think the risk is that we will see 101.80 before 4pm.
Short $20/pip USDJPY at 102.07. SL at 102.62, or more likely 102.52.
p.s. Platform issues: Once again, at exactly 10 am NY time / 15.00 London time, the IG platform stopped taking orders. The prices were being updated, but the button to open the order window simply refused to work. I don’t understand why this should happen other than deliberately on the broker’s side. I had to quit and reload the platform, which takes time. Today it was to open a new order, so it didn’t result in a serious loss; the last time it happened when I was trying to close an order. I don’t bother complaining – there isn’t much that we can do other than take business elsewhere. But all of them are crooks, the only choice is between levels of crookedness.
Edit 15.17 bst:
The battle between the bulls and bears is really intense here, can be seen in the volatility. I just don’t feel comfortable, especially after the price jumped from 102.02 to 102.20 in about 15 seconds. I’m getting out for a small loss of -10 pips.
Closed USDJPY short at 102.17, -10 pips.