Currency Pair: USDJPY Timeframe: H1 Date/Time of Signal: 5th March 2020 / 1500hrs (SGT)
Review: International Monetary Fund (IMF) Managing Director Kristalina Georgieva said the global economic outlook has shifted to “more dire scenarios” as the coronavirus has spread undetected.
The spread of the coronavirus is still driving investors to safe haven currency such as YEN.
USDJPY has been on a downtrend and below the Resistance level of 108.50.
Following the trend, trade signaled to sell USDJPY (Entry: 107.23) with 3 Take Profit (TP) Targets (TP1: 107.03, TP2: 106.83, TP3: 106.63) and Stop Loss (SL) at 107.53.