FX:USDJPY   U.S. Dollar / Japanese Yen
This trade is more driven by the fundamental aspect more than the technical picture. Things are heating up a little on the possibilities of a trade war between the USA and China which is causing weakness in the USD. I am looking at the Japanese Yen because it is what we call a safe haven currency. This means that traders will run to the JPY in times of global turmoil and uncertainty which generally causes it to strengthen.

We have had a breakout to the upside yesterday which was quickly reversed on the latest trade war news and is currently hanging around a 50% retracement of that drop. Looking to enter on market.

Get the full analysis, entry and exit levels on my website under analysis and signals
Trade closed: stop reached: Fears of a trade war faded today causing the USD to strengthen against the JPY and the trade was stopped out
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