theforexportal

SELL USDJPY for a break of trend line SHORT at 106.28

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
The significant WS1 support pivot is under pressure on USDJPY and if this fails then the BEARS could push through and break the supporting trend line shown on the chart. This opens the way for a significant move south as there is little support under here. I've entered this market already at 106.28 with a 25 pip risk. 13:15 GMT sees ADP NOn-Farm Employment Change out of the U.S. which could give impetus to either BULLS or BEARS depending on the print but with Covid-19 restrictions its hard to see this coming out in green numbers, having said that NZD last night did exactly that with their jobs data managing a remarkable 0.7% Employment Change against -0.2% prediction - so who knows?