U.S. Dollar / Japanese YenUpdated USDJPY Trade Idea
UJ is currently in a range bound condition after the previous extended downtrend move. In the previous analysis (Thursday/ 31st Dec), I expected UJ to violate the 103.000 key technical support zone for further bearish continuation with 102.000 as target. However, we saw a double bottom setup on Thursday's close which was an indication of short-term bullish sentiment. The overall direction is still bearish, will be looking for selling opportunities if we begin noticing some rotation back to re-visit 103.000 support, or a simple break & re-test setup below it.
Will keep it updated on Monday. Trade safe.
Do follow my profile for daily fx forecast.
Will keep it updated on Monday. Trade safe.
Do follow my profile for daily fx forecast.
Note
Previous analysis
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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.