Ok first a little explanation on why I took this profitable FX trade in the YEN. We need to looka t both fundamental and technical reasons. First lets analyze the technical. It was the 50% retracement of the move down from the swing high of 99.72 last week. After a 1100 pip rise it was due to correct (however this is where most traders can find themsleves in trouble-they think they know the - exact bottom or top. You can never lookat the market this way as NO ONE does.). That was my first decision. The second decision revolved around the fact that YEN is no longer a good trade for currency stability with the Japanese export driven economy in shambles and yet another bout of quantitive easing and currency debasement by the BOJ. The YEN is on a long term upward decline as a result of all these factors and the fact that the BOJ can't have its currency too strong. Coupled to the fact that you have an aging Japanes population witha low birth rate and this spells long term disaster for the YEN. The system will collapse and is already in another depression in less than twenty years. It's debt (although not new) compared to GDP is the highest of the G7 countries and it is only getting worse. THis spells collapse of the currency too by printing of YEN and distribution by the BOJ. All these factors make a strong case to short the YEN at low levels. These are low levels. Can it go lower? Yes however a great strategy right now is to buy the dips however big they are.