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Lucas: Following the bears in USDJPY

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Steve Lucas from 3c Analysis is following the bears who've been returning to the market in USDJPY at 50,100 & 200 day average rates. 

The market has been posting lower daily highs & lows throughout this month.

This month the market has broken the pivotal 20 month average and the neckline to a Head & Shoulders topping pattern.

Call – sell modestly at market, but then at 115.11, today’s open in Asia 

Stop: 115.86, yesterday’s high.

Targets: 113.75 and 112.56, the Nov 2014 low trade.