USDJPY - We look to Sell at 113.00

Pia-first Team PIA-first

USDJPY - We look to Sell at 113.00 (stop at 113.50).

USDJPY - Prices have continued the bearish move lower and resulted in 4 consecutive negative days. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. Prices are extending lower from the bearish flag/pennant formation. Signals are mixed but remain mildly bearish with an short-term timeframe highlighting an exhaustion count. Preferred trade is to sell into rallies. A break of 112.50 is needed to confirm follow through negative momentum. Our profit targets will be 112.00 and 111.60.

USDJPY Current Trading Positions

Sell 33%

Buy 67%

Avg Sell Price 113.56

Avg Buy Price 113.93

Liquidity Distribution

Author

Pia-first Team

PIA-first

Our analysis service is provided by 4 market professionals who have between them spent 85 years in investment bank and professional firm dealing rooms as traders, salesmen and analysts.

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