olly48

USD/JPY Short to 0.618 Fib

Short
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
This may be a risky one but looking to jump on a short from current price down to 0.618 Fibonacci as I was previously aiming for. There is support between current price and that target which it has just rebounded from, that is what makes this risky. Also JPY has been weak recently so this may be a risk not worth taking for some people.

TP - 104.264

Comments

while i believed this too for a long while while thinking about stocks lower.. ive come to consider the risk-on bias, with the free money flowing to high/high-ish yield comparatively.. otherwise they are looking for yield outwards. JPY is a flight to quality currency, weaker usd doesnt mean stronger yen. also how are you thinking about your cross over metrics.. MACD and 10v20 ema's they seem contrary to sell bias
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your moving average period
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olly48 duraijkm007
@duraijkm007, 10 and 20
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