The USDJPY continues to make lower lows and highs. The break and close below 111.60 has suggested that the bullish price action from trumps elections may be fading and that the 'safe haven' JPY may be coming into play as uncertainty looms over Donald Trumps failed health care repeal.
If this proves to be the case i will be looking to short any rallies back into 112.60. Weekly R1 pivot is sitting at 112.60. Ill be looking short there. Failing that a move higher into 61.8 fib retracement around 113.45 could provide further selling opportunities.
If this proves to be the case i will be looking to short any rallies back into 112.60. Weekly R1 pivot is sitting at 112.60. Ill be looking short there. Failing that a move higher into 61.8 fib retracement around 113.45 could provide further selling opportunities.