stephenleachman

USD/JPY TRADE SETUP (FAVERING SHORTS BELOW 107.50)

FX:USDJPY   U.S. Dollar/Japanese Yen
Japan's trade figures come in, its exports were higher for June but its trade balance was also higher then expectations. Doesn't look as the strong Yen heart exports so much.
USD/JPY             Daily Chart:
MY USD/JPY DAILY ANALYSIS (THE WEEK AHEAD)
Comment: Let's see if we can break and close below the trend line. Looking to add to my position.
Comment:
snapshot
Comment: Looking Good Have some support around 105.50
Comment: 105.50 comming up
Comment: I will be tacking off a quarter off my position around 105.00 We could see a retracement back to 105.50
Comment: My limit order was hit this morning for the remainder of my position @104.10 I think we might see a retracement or consolidation from hear. There is US data, Consumer confidence and new home sales coming out in 15 min 8AM EST. there's still downside potential and I will be looking to re enter shorts. My new bearish invalidation level @106.72
how looks this trade for today, still bearish or something changed?
Reply
I apologize for the late response. Technicals are still bearish but i'm not looking to trade any of the Yen pairs before BOJ tonight. Fundamentally it's a mixed picture With the BOJ expected to cut interest rates deeper into negative territory. There's going to be a lot of volatility around the Yen tonight. It prudent to wait to we get through this event risk and see what governor kuroda has to say and also for the markets to settle so we could find a clear direction to trade in. Note If the BOJ disappoints (Not implementing a larger stimulus package or cutting rates) then we will see Yen strength across the board.
Reply
CezaryS stephenleachman
does not problem.
From your explantation, we will see move on Monday morning. Any way, if you could add a comment in the weekend to predictable situation after BOJ .
Reply
Clean charts, good ideas. Thats a perfect joint.
Reply
Thanks it appreciated.
Reply
I think it could retrace to 105.50 before making continuing it's way down to the targets as specified in your chart.

I enjoy reading and appreciate your analysis. Thank you!
Reply
I'm with you on that 105 - 105.50 I can't see selling around these lows at least Not for a swing position.
Reply
I'm with you on that 105 - 105.50 I can't see selling around these lows at least Not for a swing position.
Reply
I'm with you on that 105 - 105.50 I can't see selling around these lows at least Not for a swing position.
Reply
I'm with you on that 105 - 105.50 I can't see selling around these lows at least Not for a swing position.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out