I have spoken with a few tech guys in Tokyo and the common theme is the outside candle from two days ago. It put in a higher high, a lower low and closed lower. This is seen as a sell signal and now that we have had the China GDP numbers released, the next 24 hours could be critical.
Personally I would like to sell into a rally if we see one, towards 132.50-133.00. However a close under 130.00 could be the start of a move towards 125.00.
Anyone else here look at outside candle formations?
