JoeChampion

USDJPY Breakout and potential retrace

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
Hey traders, USDJPY was trading in an uptrend but successfully managed to break it out as the environment of USD continue weakening. Fundamentally there are high expectations on a less restrictive monetary policy from the US as inflation tensions have eased. in a second point JPY is considered a safe haven with current banking sector crisis. Technically we will be watching a potential retrace of the trend around 132.2 support and resistance zone.
Trade safe, Joe.

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