Shorting the Yen, Mid-Week update

The Japanese yen has been weakening for a couple of weeks and is helping the crosses that I follow (AUDJPY, EURJPY, GBPJPY, USDJPY) to trend higher. Today there was a little bit of good economic data from Europe which helped propel the EURJPY higher but for the most part, I believe the USDJPY is rising in line with the US 10-year yields as we get closer to another rate hike from the Fed.  If you missed the breakouts during the London sessions, the next strategy is to wait for a pullback to retest an old resistance level to see if it acts as support. Being mindful of the ATR indicator which on a few of the currency pairs is showing that the price moves in the earlier session have pushed the ATR limits already. 

For more trading details, please check the hyperlinks with time stamp indicated from the video:

0:55 GBP/JPY

1:32 AUD/JPY

1:52 EUR/JPY

2:46 USD/JPY