Originally updated: 06:45am
Currency Pair: USD/JPY
Sentiment: Bullish
Market focus:
In today’s trade set up we will be focussing on short term buying opportunities on the USD/JPY.
Fundamentals:
The Yen weakened after Japanese CPI numbers dropped to a 13 month low showing inflation slowed helping to push the USD/JPY above the 118.00 handle.
Technicals:
I expect this pair to continue its up move during the session and eventually hit 118.45 or higher.
If it does retrace back down first then there is a nice confluence zone of support that traders could use as a reference to buy from again.
The confluence zone is at 116.90-116.80
Stop loss could be placed at 116.35
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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