BOAFX
Short

USD/JPY SHORT AFTER PULL BACK

FX:USDJPY   U.S. Dollar / Japanese Yen
78 0 2
Fundamentals:- The Monetary policy was kept pat by the BoJ last week which caused the further downside that we witnessed from Thursday. We expect to see some profit taking around the 106 level which could cause a pull back and give us another opportunity to jump in for sell positions this week.
Technicals:- The price started to pull back from 10550 this week and we expect this to find resistance at the previous support level as marked out on the chart. However we can not rule out that the pull back could go back to the 50% fib level hence the alternate dashed arrows on the chart. I will be including the 61.8% fib in the stop loss and splitting the lot size across the two trades.

Related Ideas

United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out