[B]My picks:[/B] stay short USDJPY, against 99.72, target 1 below 93.50, target 2 below 80
[B]Expertise:[/B] Technical
[B]Average Time Frame of Trades:[/B]
The USDJPY has broken beneath its 2+ month head and shoulders neckline. This development is bearish and even more so in the context of long term wave structure, which suggests a new all time low (below 80). Any rally should prove corrective and resistance begins at 97.00. Risk should be kept to 99.72 although price ideally does not come near that level.