sandroferrante

USDJPY: today neutral trend with downside risk

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY cross is at the end its rebound from last week low at 107.30. Today as long as price will be below 111 is much better to open new short positions with 109.50 in extension. A daily close below 109.50 will open to more downside ahead. Bearish trend will expire only on a daily close above 111, in that case rebound will continue with 112.20 as a target before falling again.
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