DRodriguezFX
Short

USDJPY to fall further as it trades sharply below 52-week SMA

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
The tide has turned on USD/JPY             as the pair trades sharply below its 52-week Moving Average. Said moving average has been a strong marker of trends in the USD/JPY             for the past two decades, and staying below the 52W SMA keeps our focus lower.
Nice plan, clearly explained. Traders should use caution around 109.00 however, as the BoJ might step in with their sledgehammer to punish shorts.
+1 Reply
Indeed and thanks. ¥109 is a big line in the sand for them--whether or not they can defend it is a real question, though. I tend to agree with my colleague Kristian Kerr here -- https://www.dailyfx.com/forex/technical/article/forex_strategy_corner/2016/03/18/USDJPY-Psychology-Continues-to-Trump-Technicals-PT.html . The Japanese government is unlikely to draw the ire of the G20 by actively intervening in FX markets and starting an outright currency war of sorts.
+1 Reply
Foden Foden
True.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out