There are first signs of USD strength: EU and GU falling, UJ rising. There is also the 38 Fibo of the big swing up from 77 – 103, so we will definitely get a bounce here. Only question is if we make another probe to the downside first, before the bounce. That could be another 100 pips down. On balance, I’d prefer to take profits now and wait to see the action and decide later whether to go long or not.
Closed USDJPY short from 94.96 at 94.32, +62 pips.