Last week we saw some strong moves from this pair due to geopolitical tensions.
Initially we observed a powerful bearish push to the upper 107.000 range as the USD rapidly devalued following the Iranian attack on U.S forces in Iraq late Tuesday night (GMT).
However, this was short lived and the pair subsequently recovered, climbing to the highlighted...
Going Short on USDJPY due to sell trend and demand with current USA and Trump news.
Confirmations given as slow pressure slows down along with NFP news (Forecast is lower than Previous results by 100k, expecting a heavy push to confirm downtrend)
USDJPY - Intraday - We look to Sell at 108.60 (stop at 108.90)
Closed the day little net changed. Selling posted in Asia. Broken out of the Head and Shoulders formation to the downside. The formation has a measured move target of 107.33. Preferred trade is to sell into rallies.
Our profit targets will be 107.35 and 107.00
Resistance: 108.60 / 108.93 /...
USD/JPY potential short opportunity, 3rd touch of higher time frame descending trendline as well as 3rd touch of lower time frame structure/channel. good risk to reward ratio with this trade. trade carefully.