USDJPY | Perspective for the new week
Going into the new week, the upside potential of the Greenback against the Japanese yen appears to be becoming more limited as falling Treasury yields is undermining the pair’s most potent logic.
Technically, the appearance of a double top structure right above the 131 area followed by the breakdown of the neckline is a signal that there is a risk of further decline probably in a short term.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Technically, the appearance of a double top structure right above the 131 area followed by the breakdown of the neckline is a signal that there is a risk of further decline probably in a short term.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active:
We are moving the stop loss to break even zone
Comment:
Trade active:
Total of 170pips in profit (2 positions); we also will have an opportunity to add one more position at a retest of the key level at 129 area
Comment:
With a total of 240pips running in profit (2 positions); we are sitting at a level which has had bullish tendencies in the past (green zone identified on the chart), hence we want to lock in some profit at this point. However, if we witness a breakdown/retest of this demand zone then we might want to add more positions.
Comment:
One more position added at retest of 129 level and we are over 310pips running in profit (3 position)
Trade closed: target reached:
Trade smart. Trade consciously