colinsheen
Short

USDJPY Could Top very soon amid NFP data

FX:USDJPY   U.S. Dollar / Japanese Yen
66 0 2
Hi Traders, Here are four scenarios I expect for USDJPY             reacting to Oct NFP data later today:

1. NFP beats expectation by 50k+ jobs - USDJPY             is going to run skyhigh with ample of follow through with
Dec rate hike expectation rise. not likely though

2. NFP/unemployment rate/rate change are just slightly better than expected - USDJPY             pop and drop,
122.50-12.2.70 could be resistence (this is the most likely case IMO             )

3. weaker than expected in general - USDJPY             will chop sideways as market will not expect a large drop in
Dec rate hike.

4. much weaker than expected - USDJPY             a definite sell if this is the case.

In general, I'm looking to short USDJPY             sooner or later.

Good Luck!
Trade active: entered at 122.50, stop at 123.50
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