The m.o. appears to be an early squeeze at the beginning of the day to create enough liquidity to sell into...it also creates this "rolling chop" downwards that lures in longs throughout the day...if you were to flip the charts upside down, you'd never see this sort of action during the bull phase...those episodes are unrelenting to shorts (i.e. you can never get out in one piece).
short jap yen futures @ 8337..stop at 8400 purely technical position, dollar/yen is in a tight range, thought i would try and scalp it for 60 ticks.