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
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