Attached is a 40-day chart of the march Japanese Yen.
On Tuesday, we put out a potential long bias based on the fact that Yen weakness was largely priced in along side an Abe victory. Despite the change in administration and the less aggressive dovish rhetoric, the Yen has not had the rally we anticipated and never hit our trigger.
We are still allowing for the possibility of a delayed reaction and will leave our levels the same. The 119.53 trade triggers long bias with an initial objective of 120.75. A settle below 118.95 and we get stopped out.