The USD/JPY remains under pressure below the 105.10 level

Orlando Gutierrez Learn 2 Trade

The USDJPY rallied last Friday from the lows around the 104.40 level and continued after Sunday's open. Even though we are in positive territory our bias remains bearish below 105.80 with possibilities of retesting the 104.00 level if Japanese Yen Futures rally from the retest of the previous highs. This and a bearish USD would make the short play on the USDJPY a considerable high probability trade.

Keep an eye on Yen Futures at this level turning green for the day.

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Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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