EmpowerTrader

USDJPY Testing Final Key Support

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Price fallen sharply last week as global equity saw corrections across the board. Where recently the pair has had a high correlation with the stock market.

Trade Step-ups:

Scenario One ( Bullish Reversal): Price rejects a bearish breakout. Look for a move to the topside of the trend channel.

Scenario Two ( Bearish Breakout): Price breaks bullish channel trend, look for consolidation below 111.500.

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.