Oil has hit a 15-month high on the back of optimism over the Opec deal which needs to be sorted out by November 30. But, with a record long position building across the combined benchmarks, a disappointment could leave some exposed. Full report to come within the hour....
Day trade
Trade view / 08 September 2016 at 5:54 GMT

Lower highs for USDJPY keep signals pointing lower

partner and technical analyst / 3 c analysis
United Kingdom

Having turned bearish on Tuesday, yesterday’s signals continued to point lower. A second lower daily low in a row and initial losses of ¾ Big Fig have confirmed this. Despite a recovery signals for Thursday remain negative and point to staying short and selling rallies.

Management and risk description

Allow room to sell an intraday bounce and lower stop to entry if the first target is met.


Entry: sell at market and 102.01, yesterday's opening trade.

Stop: 102.50.

Target: 100.53, the August 26 open and 100.06, the August 26 low.

Time horizon: today only.

USDJPY 4 hourly - pullback to gains
USDJPY Weekly - recovery to losses
USDJPY Quarterly - 50% pullback
Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

For more on forex click here

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