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

 

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