Possible Correction in USDJPY? Driven by DXY
Hello traders
We have a possible long awaited correction in USDJPY. This trading pair have been going strong for 5 trading days in a row but now we may see some weakness and possible correction back down to 109.3 area as we are seriously over extended and to grow anymore we need a healthy rest.
We are also seeing a dip in DXY today which, if sustained, will drag USDJPY down with it.
Keep an eye on both and if we print a bearish daily candle at close I believe 109.3 will be seen within this week.
Trade safe, only risk what you can afford and make use of those SLs as this market is performing in ways which make any trade risky.
Not financial advice.
We have a possible long awaited correction in USDJPY. This trading pair have been going strong for 5 trading days in a row but now we may see some weakness and possible correction back down to 109.3 area as we are seriously over extended and to grow anymore we need a healthy rest.
We are also seeing a dip in DXY today which, if sustained, will drag USDJPY down with it.
Keep an eye on both and if we print a bearish daily candle at close I believe 109.3 will be seen within this week.
Trade safe, only risk what you can afford and make use of those SLs as this market is performing in ways which make any trade risky.
Not financial advice.
Comment:
DXY crashing down to 93.03 bringing USDJPY with it as expected... waiting to see if a bounce happens or if we continue down