The USDJPY broke a significant pattern at the end of July. Significant is probably an understatement. I’ve discussed this monthly wedge pattern since May, maybe earlier. Notice how USDJPY has held below the 106.00 area on a monthly closing basis since July. I’ve liked the idea of a lower USDJPY since then. However, the tricky part was timing a short entry. While you could’ve looked for entries at swing highs, an alternative was to watch for a breakdown of the March trend line. I mentioned this idea on September 7th. As you can see from the daily chart below, USDJPY is about to break the March trend line. Just keep in ... (full story)