Stopped Out of My Yen Trade

I have been short the USD/JPY pair and slowly trailing my stops for a couple of weeks now, but I got stopped out this morning when the pair had a parabolic rise. I have not checked the news or currency blogs yet to see what happend (or at least what everyone is claiming is the reason for the move) but the quick retracement smells of stop hunting. Here's a 5 minute chart that shows the rise:Although the rally was swift, it lacked follow through. This weakness combined with the fact that the pair is still in a major down trend on the daily time frame indicated to me that the move would most likely not last...so I faded it. So far the trade is working out well (up 55 pips as I'm writing this) and I'll be looking to add to the position if the pair continues to show weakness. Alternatively, I'll also be looking for signs that I'm wrong and that the pair is going higher...a very important thing to do when fading big moves. We'll see how it plays out.

Good luck out there.

TLT