usd/jpy analysis for this week from 9 to 12 May
In the past days the buyers were started to come back to the market because of the interest rate expectations coming out of the Federal Reserve ,the usd/jpy pair rallied from 108.13 till 114.30 today ,but i think for the next three days ,115 is the ceiling , i don't think the price will break it , before retesting the major support staying around 111.90. Also this week we have many events in the US economic calendar that affect on this pair retail sales , Core CPI, Producer price index . I will suggest to sell this pair from 114.75 and from 115.20 targets : 114.20 ; 113.60 and 111.90. with stop loss :daily close above 115.20. (of course we move stop loss to the breaking even point after the price reaches the first target)
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