USDJPY - We look to Sell at 113.00

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

 

USDJPY Current Trading Positions

Sell 33%
Buy 67%
100.0%33.0%0304050607080901000
Avg Sell Price 113.56
Avg Buy Price 113.93
Liquidity Distribution
111.38114.17117.05111.38114.17117.05SellBuy

 

Risk Warning

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Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with spot foreign exchange and futures trading, and seek advice from an independent financial advisor (IFA) if you have any doubts. All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect the truth. Please use your own good judgment and seek advice from a qualified consultant or IFA, before believing and accepting any information posted on this website.

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Losses can exceed deposits