U.S. Dollar / Japanese YenUpdated USDJPY Trade Idea
In yesterday's analysis, I expected UJ to have some sort of tight consolidation near the 104.70 key support zone showing further weakness and downwards breakout possibility, which was exactly what the market performed. In today's trading session, I will be favor short-term selling opportunities as UJ is currently showing an exhaustion pattern as well. As RSI is approaching the oversold region (30), I will be looking for pullback entries with 103.700 support zone as the target.
However, do not forget the overall trend on the higher timeframe remains bearish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
However, do not forget the overall trend on the higher timeframe remains bearish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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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.