With this in mind along with the charts showing we are approaching resistance around the 0.618 fib line this all builds a strong case for shorting the USD against the YEN.
Entry around the confluence zones of 114.400- 114.800
Stop Loss @ 115.500 just above 0.618 fib line
TP1 @ 112.200
TP2 @ 111.300
ALL EYES ON NFP ON FRIDAY
We rate this trade out of ten an ( 8 )
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Data this week to watch for from the US aswell .
We will keep you updated but expect the 1.1550 levels to be tested again .