USD/JPY potential double top signals bearish momentum

Jason Sen DayTradeIdeas.co.uk

Today’s trade ideas

A potential double top forming in USDJPY after last week’s rejection of the 2022 high at 151.94.

If this starts to play out we could fall as far as 140.00 in the coming weeks. It would be great for traders to be able to take advantage of some downside momentum in the pair.

Especially when I could show you so many dollar pairs in sideways trends...but I will not waste your time again this week!!

So it remains so difficult to find low-risk opportunities.

However, despite the AUDCHF 5 month sideways move I think it is worth a short at the Fibonacci & 5 month trend line resistance at 5820/40.

NZDCAD breaks out of the 11 month bear trend to the upside - I have today support at 8270/40. Longs need stops below 8240.

Short term targets: 8300, 8330, 8350.

Author

Jason Sen

DayTradeIdeas.co.uk

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