Yesterday, I highlighted the risk of forming a secondary or lower high for the EUR/USD, AUD/USD and Gold. Each metric stalled at a noteable retracement level in the Asian session. Once again, diverging hourly studies hinted of an impending reversal that was confirmed early in the North American session. As a result, I have exited my long Gold position and initiated a long USD/JPY position. The dollar/yen is finally showing signs of a base with today's confirmation of a short-term double bottom.
STRATEGY: LONG USD/JPY at 81.45, risking 81.05, targeting 82.11 1st
