fxsignals4pips
Short

USDJPY breaks below neckline once again

FX:USDJPY   U.S. Dollar/Japanese Yen
It seems the Non-Farm Payroll action buyers are slowly unloading their position. The December rate hike anticipation has caused the U.S Dollar to partially strengthen along with the expectation that the Euro             will reach parity.

The hourly time USDJPY             chart currently signals a short term intra-day sell especially against such a devalued currency like the Yen.

The descending trend-line is a good sign of exhaustion where the price is failing to break above previous highs or buyers are unable to bid up the price. The neckline isn’t as strong of an level after seeing price rally overnight. However, sell off resumes once again early this morning and I expect this to continue throughout the New York             session this afternoon with further selling picking up later in the Sydney-Tokyo overlap session.

This is an almost pure technical setup trade and so my the duration of my outstanding position target is at most one day. Given the 7:30PM Australian data release and 9:30AM tomorrow Yellen speech based on New York             time, I would look to exit before then as the fundamental factors could drive this pair into an undesired direction.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out