Currency Pair: USD/JPY
Sentiment: Short term bearish
Market focus:
In today's trade set up we will be focussing on short term selling opportunities on the USD/JPY.
Fundamentals:
With indices down across the board as investors seek haven assets, we will focus our attention on buying YEN. The USD sold off after poor data yesterday which is starting to diminish the prospect for an early rate hike by the FED.
Technicals:
We have a nice confluence zone at 106.80-107.00. This should offer short term resistance for any pullback.
Stop loss could be placed at 107.40
First take profit target: 106.40
Second take profit target: 105.85
Trade management: After target 1 hit stop loss could be moved to breakeven
Sentiment: Short term bearish
Market focus:
In today's trade set up we will be focussing on short term selling opportunities on the USD/JPY.
Fundamentals:
With indices down across the board as investors seek haven assets, we will focus our attention on buying YEN. The USD sold off after poor data yesterday which is starting to diminish the prospect for an early rate hike by the FED.
Technicals:
We have a nice confluence zone at 106.80-107.00. This should offer short term resistance for any pullback.
Stop loss could be placed at 107.40
First take profit target: 106.40
Second take profit target: 105.85
Trade management: After target 1 hit stop loss could be moved to breakeven
At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.
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