​The Trump administration has not yet formally deployed the long-awaited latest $200 billion in tariffs against China, but a new Wall Street Journal report indicates that Japan might be next on the agenda.
Day trade
Trade view / 09 February 2018 at 6:51 GMT

USDJPY capped by key average, sentiment bearish

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: USDJPY
Price target: 108.28
Market price: 109.00

Asian gains were not extended in the latter part of Thursday. Instead, selling interest developed and dominated, with the market again closing marginally below the 13-day moving average after moving close to last month’s lows. Although failure to seriously test that area does add a note of concern, as does a modest bounce in today's Asian price action, our technical studies are still left bearish and looking for a retest of last month's lows.

Management and risk description

A move to 108.73 means the stop can be lowered to break even.


Entry: Sell in 109.00/10 area.

Stop: 109.56 bid.

Target: 108.73, 108.49 and 108.28.

Time horizon: Intraday, closing 1600 GMT.

Below average
Below Average
 62% caps
62% Caps
 Long term
Long Term
 All charts from CQG. Create your own charts with SaxoTrader; click here to learn more

— Edited by Susan McDonald

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Non-independent investment research disclaimer applies. Read more

A compiled overview of Trade Views provided on is found here
09 February
AlanCollins AlanCollins
Not been the dynamic mover I had expected. Prices are modestly lower but I would reduce exposure significantly and lower the stop on any short balances to 109.35
09 February
MM77 MM77
Nice trade though; did not have patience to wait 108.73 and closed 108.90-91. Its Friday :) Thx!
09 February
alki alki
Friday or not, i was expecting a bit more of a risk-off yen buying given the mess in the eq market...
09 February
MM77 MM77
Might pay off after the US opening if the show goes on ... I just wasn't curious :)
09 February
AlanCollins AlanCollins
agreed to all the above. I just picked the wrong Trading Idea for this platform today. So pleased it worked by sorry it wasn't one of the more profitable ccy pairs


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