Update on today’s USDJPY Short Trade set-up

Pls NOTE that a new swing high @ 92.56 (highlighted with the white dashed line) has formed on the Hourly chart above. With the new swing high, price move above the 92.56 level invalidates any Short trade set-up – based on the method discussed on this thread.
Consequently, if you took a Short trade based on the 50% fib. ret. (92.49), please manage your trade properly. Your position is still very much promising as price has the potential of moving further downward to hit your profit target.
However, if you were targeting the 78.6% (92.80), that level is no more valid for a Short trade entry – again, this invalidation is based on the method discussed on this thread.

Also, be very much aware that major news are being released in the US and Europe around this period.