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A "Stylish" Short Set-up in USD/JPY

By Todd Gordon
13 December 2013 19:00 GMT

Short Set-up for USD/JPY

  • Trade: Sell USDJPY at the 50% retracement of the wave-1 decline at 103.45
  • Stop loss: Place stop just above the wave count invalidation of 103.92
  • Take profit: Initial take profit is the December 11 low of 102.15

More: For the complete analysis from senior currency strategist Jamie Saettele, watch this video.

See related: A USD/JPY Short That's Playing Nice

By Todd Gordon, founder, TradingAnalysis.com

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13 December 2013 19:00 GMT