USDJPY – Asian buying to extend
Early gains on Monday stalled, then reversed, short of last week's highs. Selling interest emerged above the 50-day moving average and although net losses were minor USDJPY was driven below that average and produced a second down day in a row. However, those losses have been entirely regained in Asia and although last week's top is intact, intraday signals for sentiment are now assessed as bullish.
Management and risk description
A move to 107.49 means the stop can be raised to break even.
Entry: Buy in 107.10/15 area and any 106.95 dip
Stop: 106.61 offered
Target: 107.49, 107.67 and 107.90
Time horizon: intraday, closing 16:00 BST
— Edited by Clare MacCarthy
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