USDJPY has plenty of tech up around 113.00

I’m really liking the look of all the tech hanging around from 112.93 to 113.00. Just to recap, we have a bundle of moving averages all sitting at 112.93.

USDJPY H4 chart

USDJPY H4 chart

Throw in the usual offers that will be sitting ahead of 113.00 and I’m rally itching for a short if we go there. The only worry I’ve got is that we’re spending most of our time watching paint dry as far as this pair goes and I don’t want to be sitting in a short and find I’m picking my nose until the NFP. That said, I’m only looking to job it so I’d happily take 10/20 pips on it.

I think I’ve made my mind up so I’m going to sell small at 112.90 and a bit more closer to 113.00. I’ll look at a stop just above 113.20.

Any thoughts from the readership?

Ryan Littlestone

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