Risk sentiment is this week's focus following the US/British/French attack on Syria, with the USDJPY's tentative breakout beginning to falter as prices head into the Ichimoku Cloud.
Short term
Trade view / 15 August 2016 at 7:09 GMT

Bearish signals on USDJPY put June low on table

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: USDJPY
Price target:
Market price:

The Q3 call to sell at 106.22 has been close to the high, but last week’s signals points to a temporary bounce. This is exactly what occurred, as initial gains of just under 1 Big Fig were completely given up having attracted sellers at the 13-day average rate.

Prices are also trading below their other key moving averages and signals have subsequently switched back to bearish looking for a test of June's near three-year low.

Management and risk description

Allow room to sell a rally and lower stop to entry if the first target is met.


Entry: market and 101.95, Friday's opening trade.

Stop: 102.83, the 2 week high.

Target: 100.00, July's low and 99.01, June's base.

Time horizon: this week.


USDJPY Daily - moving averages

USDJPY Quarterly - 50% pullback
 Source (all charts): CGQ

— Edited by Martin O'Rourke

Non-independent investment research disclaimer applies. Read more
Alejomacas Alejomacas
En que niveles compramos? gracias
sam wightman sam wightman
Hi Steve
I have been following your Trade Views for some time now.
Would you mind if I inquired.
I would be very interested to know your client terms of business.
Steve Lucas Steve Lucas
Hi Sam....not sure exactly what you mean.....we have a close working relationship with Saxo Bank and through them provide our analysis to their clients.


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