USDJPY: Selling rallies towards 110.00

Jim Langlands FX Charts

Preferred Strategy: Neutral. The short term momentum indicators hint at a mild topside squeeze although while fears of further tension between the US and N Korea remain the focus the dollar is going to find it hard to make much of a recovery. The dailies appear to be picking up increasing downside momentum so selling rallies towards 110.00 would seem to be the plan, with a SL placed above 110.15 but looking for a return to 109.00/108.70.

Economic data highlights will include:

M: Japan GDP (Q2)

T: Industrial Production, Capacity Utilization

T: Trade Balance

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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