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SmoothJB
Jan 16, 2022 6:46 PM

USD/JPY Short

USD/JPYOANDA

Description

The US dollar plummeted against the Japanese yen but did recover slightly during the Friday session. At this point, it looks as if there is a lot of selling pressure, so I think if we do rally at this point, a significant amount of resistance may cause some issues. At the first signs of exhaustion, I anticipate that there will be a lot of traders out there willing to short this market. That being said, the ¥112.50 level underneath should be a significant support level. To the upside, keep an eye on ¥115, because it is so important.
Comments
Gravitas
nice. Have the same thought too. btw did it hit your SL?
Leo-btm
nicely explained thanks for sharing
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