As shown in the above chart, USD/JPY fell in a nice swift 83 pip move on Friday due to the Consumer Sentiment report that was released...or so they say. USD/JPY took out its previous weekly high and fell back below the support level of 110.00. I'm looking for possible short entries on the retrace back up near 109.885 to around 110.000 and stops being near 110.100 to 110.200. First target being the previous weeks low at 109.548 with overall target near 109.166. With the break and retest of the first trend line we should see a fall to the next.
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