End to higher lows in USDJPY signals end to bounce
The recovery since June’s near three-year low at 99.01 may be corrective and it has stalled ahead of 103.85, a 62% recovery to the losses posted since the last two-week high. Losses in Asia this morning have ended a sequence of higher daily lows and signals are pointing to more downside.
Management and risk description
Allow room to sell rally and lower stop to entry if the first target is met.
Entry: market and 102.53, today's Asian high
Stop: 102.81, this week's top
Target: 101.10 and 100.75
Time horizon: intraday.
— Edited by Martin O'Rourke
Non-independent investment research disclaimer applies. Read more