USD/JPY short Idea
Updated
Based on the past two days we saw a sharp bullish movement on the USD/JPY. I believe that factors such as the ADP Nonfarm Employment Change (Jun), and the Pending Home Sales (MoM) (May) had a significant impact on prices. I'm currently looking to go short on the USD/JPY for reasons such as:
1. Tankan Large Manufacturers Index (Q2) - lower than the previous release
2. Tankan Large Non-Manufacturers Index (Q2) -lower than the previous release
3. Price rejection @111.601 price zone
1. Tankan Large Manufacturers Index (Q2) - lower than the previous release
2. Tankan Large Non-Manufacturers Index (Q2) -lower than the previous release
3. Price rejection @111.601 price zone
Trade active
USD Unemployment Rate (Jun) 5.9% - lower than the previous result. Negatively impacting the dollar.
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