Yen pairs really took a battering last month. However, this month should see a fightback from the yen bears.
Having said this, USDJPY seems to be coming back down to the bottom of it's downtrend channel and a reversal is on the cards.
However, I would be cautious as this pair has come down very strongly forming a very bearish daily/weekly/monthly candle on the close of Friday.
I hope to see USDJPY dip further on Monday/Tuesday with signs of bulls coming in to the London/New York sessions on either day to give me confidence before going long.
Trade safe and good luck!
Having said this, USDJPY seems to be coming back down to the bottom of it's downtrend channel and a reversal is on the cards.
However, I would be cautious as this pair has come down very strongly forming a very bearish daily/weekly/monthly candle on the close of Friday.
I hope to see USDJPY dip further on Monday/Tuesday with signs of bulls coming in to the London/New York sessions on either day to give me confidence before going long.
Trade safe and good luck!
Comment:
MOVE SL to EP.
Comment:
SL at EP hit