USDJPY has hit 200 MA in DAILY chart but STILL SHORT
MACRO
So as USDJPY has been bearish,we should focus on shorting it.
But we can see there is support which is strong,the 111.00 yen line and 200 MA in DAILY CHART mixed together.
On last friday the price has bounded at the line i mentioned above so some people must be thinking that it has been the end of bearish trend.
Answer is probably not the end.
We should look at correlation of USDJPY and CFDs such as NIKKEI and DOW JONES.
those CFD has been going down for alot now and probably will continue so we should look at USDJPY as bearish too.
THE red trend line is where we should TP if you took shorting position.
So as USDJPY has been bearish,we should focus on shorting it.
But we can see there is support which is strong,the 111.00 yen line and 200 MA in DAILY CHART mixed together.
On last friday the price has bounded at the line i mentioned above so some people must be thinking that it has been the end of bearish trend.
Answer is probably not the end.
We should look at correlation of USDJPY and CFDs such as NIKKEI and DOW JONES.
those CFD has been going down for alot now and probably will continue so we should look at USDJPY as bearish too.
THE red trend line is where we should TP if you took shorting position.