USDJPY- Waiting for Short at 110.40
Updated
I am waiting for structure to appear on usdjpy for a short trade back into the 107 areas and lower. This pair is trading in a channel and the negative price action on the dollar is also sending the yen lower in a risk off environment, hence the yen basket buys. As you can see today June 6 at 8:00 am, we have been in buy mode on the yens for most of the week. My feeling is that the top of the channel may cause this to hault. I have some dollar charts on my twitter feed that you can check out. For this week, let's look for usdjpy to form some structure at about 11040-11050 area and then begin trading back down to the bottom of the channel. If we get a channel break north, it may be a whole different ballgame. Check out my other charts hope_bleecker for Elpidos Trading on twitter. Thanks and have a wonderful day.
Trade active
Still waiting on 110.40. I've got one running from 110.20 and 110. Still planning on this coming up higher until it drops.Trade active
I'm taking two of these for 50 pips and change and going to plus 20 on the rest of the lot with the G7 conference this weekend. Looks like it might continue to go but if dollar gets euphoric, then I will take these for profit, the 11040 and 11055 orders will hit and everyone will be happy. Have a great weekend!!Trade closed: stop reached
Ok broke the crown and it's breaking out of the channel. Looking for 115 will put on a new chart. Thanks
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.