Short USDJPY on Weaker US PCE figure
The dollar has enjoyed a very strong rally recently, but with yet another weak PCE figure and more and more talk of rate cuts by the Feds the dollar could start pulling back. If you add a bit of risk aversion to the mix the JPY could and will gain significant ground on the green back.
The USDJPY broke below its 2019 ascending trendline last week and is now likely to drift lower.
Entry at 111.822 and stop loss at 112.820.
The USDJPY broke below its 2019 ascending trendline last week and is now likely to drift lower.
Entry at 111.822 and stop loss at 112.820.
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