USD/JPY SELL - 17/10/2017

The Yen had tested the support level 111.73 - 111.86, but failed to break it down and rebounded up strongly. The growth was sharp, but on average volume, so it does not cancel our previous scenario of opening short positions after a breakdown of the support. The move should be abrupt and supported by large volume. A stop loss should be placed above the breakdown volume bar. A potential of the deal is more than 100-110 pips.

The bottom line: short positions after a sure breakdown of the support.