Short USD/JPY between 97.10 and 97.53 if the price reaches this level before Midnight GMT tonight. Take 75% of the position as profit at 96.25, move the stop to break even and allow the remainder to run further.
Day traders should wait for the price to return to 97.10 and look for trades from fast short breaks of inside or engulfing bars on the 15 minute chart, being prepared to enter more than once if necessary, but not more than three times. After one 15 minute bar closes above 97.53, the signal is invalidated.
Traders that cannot be near their screen should set a limit sell order at 97.53 with a stop loss at 97.80, expiring at Midnight GMT tonight.
