simonsays452

Yen weekly channel support held. Gap-fill below @ 112.474.

FX:USDJPY   U.S. Dollar/Japanese Yen
107 0 5
Since the BOJ announced their NIRP policy, we've seen a massive strengthening in the USD/JPY             cross. Yen volatility is highest across major traded currencies and even across most asset classes - oil             included!

snapshot

We've seen the bottom TL of the weekly channel hold up as reliable support this week. I ultimately think the market will continue to try to call Kuroda's bluff and we'll see the pair strengthen further. However, until we see that trend support breakdown, the risk/reward doesn't warrant adding shorts here below 115. That said, there's a small gap at 112.571 that could be a nice target to fill. I won't be added to my short position at these current levels.
Trade active: Bearish TL support breached < 1.14. Adding to my short, targeting the gap-fill at 112.474
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