Sforex
Long

USDJPY: I DON'T BELIEVE IT COULD TRADE LOWER

FX:USDJPY   U.S. Dollar/Japanese Yen
208 0 2
The greenback continuely trade lower vs Japanese Yen             today while trade higher vs Kiwi, Euro             , and Loonie.

The main reason I think come from the nature of currency:Yen is a safe haven currency, so traders buy Yen as a place to shelter from the Grexit problem, and because greenback is also a safe haven currency, it is bought vs high risk currencies such as Kiwi and Loonie.

While we still not have an obvious answer for Greece problem, I think this trend could continue despite positve data of USDollar             ; today we see Consumer Confidence soared to 101.4; this data could reinforce for the payroll on Thursday.

- Back to Technical Analysis .

USDJPY             test the strong support at 122, this is also the old high I mark on the chart.

Moreover, the main and strong bullish trend line is also at this level : 122

USDJPY             test Kumo cloud at 122.

To maintain the bullish view: USDJPY             couldn't break the Kumo cloud and the trend line .

While I still put my faith on strong Dollar, I don't think USDJPY             trade lower the key suppport 122.

I consider the bounce from 122 as a chance to BUY at low level.

I hit a LONG position of USDJPY             at current price 122.40, stop loss 121.90, take profit at124
------------------
Any contact: LH admin: admin@trackingforexsignals.com
Support: support@trackingforexsignals.com

Website: http://www.trackingforexsignals.com
FB             page: https://www.facebook.com/sforexsingals

Best Regard!

- -TrackingForexSignals.com--

Do the Right thing- Think the right way.
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