Don’t want to trade against Abenomics, but it does look like yen is making lower lows in a Quasimodo form. So want to catch it on the down poke. Quasimodos tends to trade down to a point and has a return rally. We may not get the entry, but need to be ready if we get it. If we don’t get the formation set-up - bail on the idea.
Entry 1: 101.20
Entry 2: 100.50
Target: 102.00 (if we get the scale-in second entry, we can consider early exit)
Stop: 99.90
Blue Point Trading, William Thompson