In our swing trade suggestion, we targeted USD/JPY firstly at 108.00 and later to 106.00 levels.

The Short is working fine. We are in the money more than 3000 pips.

USDJPY D 07-04-2016

It appears as if in the near term USD/JPY is headed towards 1.61 Fibonacci Extension to 107.75, however we think USD/JPY is due for a rebound before hitting new lows.

While catching a falling knife is never a good idea, wait for a recovery, if today’s low holds, Buy with Stop Loss at today’s low.

USDJPY 1h 07-04-2016

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