Day trade
/
Buy
Trade view / 10 April 2018 at 6:35 GMT

USDJPY – Asian buying to extend

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target: 107.90
Market price: 107.15
Background

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.

Parameters

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

Asian Buying
Asian Buying
 Long Term
Long Term
 All charts from CQG

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
10 April
TradingFan TradingFan
HI Alan, on board. Currently 106.95 do you confirm the idea? Thanks
10 April
AlanCollins AlanCollins
yes. all in order. stop in right place although given current momentum targets may be a little ambitious. Will update if/when necessary
10 April
TradingFan TradingFan
Thank you!
10 April
MM77 MM77
Hi Alan, you suggest closing 16:00 BST no matter what?
10 April
AlanCollins AlanCollins
always. Analysis aimed at European market and so we always close at 4pm London time,earlier if appropriate
10 April
HaythamSabry HaythamSabry
Hi Alan,any updates regarding levels given current momentum?
10 April
AlanCollins AlanCollins
action totally elsewhere which is disappointing. Studies still positive but being realistic would look at 107.16, 107.24 and 107.49 as targets. Stop I'd raise to 106.80.
10 April
Acho Acho
well done Alan
10 April
marran marran
this has been a frustrating trade today. I have taken half my positions off at a small profit (very small) and leaving the rest as I think this still has a lot of potential although not by close today
10 April
AlanCollins AlanCollins
yes . sorry for poor choice today.
10 April
marran marran
no problem Alan tomorrow is another day
10 April
marran marran
sod's law! having closed out half my position 40 minutes ago it's now started to go up! lol
10 April
MM77 MM77
I moved the stop at entry as the profit is tiny so far ...
11 April
marran marran
i still think this trade has some potential

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