Trade idea.
For now, this is the set-up. At the moment, given that the pair is still trading above its short-term upside line, we will stay positive. But as we can see, the rate is struggling with a resistance area between 108.26 and 108.39 levels. If this gets' broken, there might be a good chance for USDJPY to travel further north.
Don't forget that tomorrow (Wednesday) we have the FOMC statement and the Fed interest rate decision, which could force the pair to spike either way, due to high volatility. So be careful. That's why for now, this is the technical picture that we have. The pair might wait for tomorrow to make a move.
Please see the chart for levels and targets.
Don't forget your stop-loss.
For now, this is the set-up. At the moment, given that the pair is still trading above its short-term upside line, we will stay positive. But as we can see, the rate is struggling with a resistance area between 108.26 and 108.39 levels. If this gets' broken, there might be a good chance for USDJPY to travel further north.
Don't forget that tomorrow (Wednesday) we have the FOMC statement and the Fed interest rate decision, which could force the pair to spike either way, due to high volatility. So be careful. That's why for now, this is the technical picture that we have. The pair might wait for tomorrow to make a move.
Please see the chart for levels and targets.
Don't forget your stop-loss.
Note
Please join our daily live quick technical market overview webinars - Trader’s Espresso and Trader’s Tea Time - on YouTube.Trader’s Espresso – 06:00 GMT
Trader’s Tea Time – 13:15 GMT
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.