It’s like watching a sloth climb a tree but USDJPY is moving
The ‘second wind’ for USDJPY is more like a small kid trying to blow up a balloon but up she goes. The 110.00/15 area (includes the 200 DMA at 110.14) is the next big resistance but look for some to appear into the 100 H4 at 78 and then the 85/90 area.
USDJPY H4 chart
Support is likely at 109.50 and a break there will then target the next lot at 109.30. The line in the sand for today is at 109.00.
I’m liking the look of a small short into 110 with a tight stop above the 200 MA, though I’m loathed to get into something that’s possibly going to crawl for the rest of the day, and I don’t really want to hold a scalp over the weekend. We’ve still got the ISM coming up at 14.00 GMT too.
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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Limit sell at 110.15 with sl at 110.28 … except that I do not see it going into the tens easy (maybe in case PMI’s beat hugely).
And there’s indeed the risk that it keeps hanging there.
why not limit sell usdchf above.99:) ars
Doesn’t look like we’ll be getting those trades in today 😉
Noops, unless the TinC (Tweeter in Chief) drops a few lines …