USD/JPY (PLEASE PULLBACK!) LONG
Fundas - With the NK statement on ceasing Nuclear programs over the weekend, the Yen lost strength and the Dollar continued its upside on Monday after a gap thru the weekend.
Tried to play both sides as my longer term bias was long. I had a short on with anticipation of a small pullback from the weekly resistance area 107.60-80. Didnt happen.
Techs: As with my previous USD/JPY long idea i still see this hitting 109.25- 110 area. Now with the upside clean break i will be looking for a buy in the 108.50-108.30 area (if this thing pulls back, i wont chase!!!) with a Stop under around 107.75 area. for upside to those targets and add in once momentum confirms.
Happy Trading
Tried to play both sides as my longer term bias was long. I had a short on with anticipation of a small pullback from the weekly resistance area 107.60-80. Didnt happen.
Techs: As with my previous USD/JPY long idea i still see this hitting 109.25- 110 area. Now with the upside clean break i will be looking for a buy in the 108.50-108.30 area (if this thing pulls back, i wont chase!!!) with a Stop under around 107.75 area. for upside to those targets and add in once momentum confirms.
Happy Trading
Related publications
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.