USDJPY Plummeting.

FX:USDJPY   U.S. Dollar / Japanese Yen
Fundamentally, USD is bearish because of current trade wars, China remains at favor because of it's better economical condition compared to USA. It is also noteworthy that last week data on greenback came out disappointed both Retail Sales and CPI with big differences (>0.2). These could be indicating where greenback will go for the rest of the month.
Technically, USDJPY trading at interesting zone, 112-113 which are strong monthly resistance level , after USD news came out USDJPY keep going stronger, this could be fake pump by bigger player. Looking at DXY , current price is ranging from 95.7 - 93.6, I wanna see breakout to downside of 93.6 level before taking short position on USDJPY . Moreover USDJPY bigger timeframe shows that it is in downtrend from 2017, then correction happen in 2018.
To sum it up, I wanna see DXY failing at 93.6 level before taking a trade ! However if strong rejection candle shows at current monthly resistance i will likely to open aggresive trade towards 111.000 (swing trade)

This is my chart from last month and i got some piptalks from Superior4X !
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out