USDJPY coming into area of high resistance

After that incredible rally last week which we discussed in this idea:

USDJPY has finally reached an area of high resistance and could see a pullback. First minor support comes in at the the previous Fib at 108.45 area and then major support from 107.60-106.95. (Green Rectangle)

Kommentar:

Pair hit the 50% Fib

Kommentar:

Lower timeframe trendline broke on Earthquake news. Dont usually post these here but its a nice example of what to look for

Also if anyone is wondering why the Yen strengthened on the news this is an article about the 2011 earthquake

www.theguardian.com/...-surges-nikkei-falls

Kommentar:

Testing the 50% Fib again

Kommentar:

Testing the Fib for a third time. It will be very surprising if it doesn't break. As long as we don't get a close above the Red box the idea is still valid

Kommentar:

Broke above on very good durable goods data. Now triggering stops

Kommentar:

Area held for two days. Waiting for some structure before next idea