Get started
TradeTheStructure

Safe haven YEN buying pushes price lower

U.S. Dollar / Japanese Yen (FX:USDJPY)  
TradeTheStructure  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis USDJPY yen fx currencytrading forexsignals priceaction
5
0
trendanalysis chartpattern beyondta usdjpy yen fx currencytrading forexsignals priceaction
The USDJPY backed away from the 108.890 zone even as the USD rallied. The move is a strong sign of safe haven buying into the YEN to outweigh the move up in the dollar. Price looks set to push lower so we are looking for a break below 108.10 for a sell opportunity off a shoulder setup.

Related Ideas

TradeTheStructure
The USDJPY is ready to pop as the Dollar rallies
TradeTheStructure
Bulls and Bears fight it out in the AUDJPY
TradeTheStructure
The USDJPY is holding at resistance but could spike higher
TradeTheStructure
AUDUSD employment data out may trigger volatility
TradeTheStructure
The GBPUSD hit our target so watching for what happens next
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.