Day trade
Trade view / 14 June 2016 at 6:06 GMT

USDJPY: May's 1.5 year low under threat

partner and technical analyst / 3 c analysis
United Kingdom

This week’s signals are bearish, but with daily sentiment oversold at the 200 week average rate, as well as being close to May’s 1 ½ year low, the call is to also sell the rally.

Monday’s trading saw losses in Asia attract buyers in Europe, but for sentiment to close with a down-day. The bias for signals remains negative and they look for a test through May's over 1.5 year low.

Management and risk description

Allow room to sell the rally and lower the stop to entry if the first target is met.


Entry: Market and 106.37, today's high in Asia.

106.96, yesterday's top.

105.53, May's low ands 105.18, the Oct 2014 base.

Time horizon:
Today only.


USDJPY 4 hourly - recovery to losses

USDJPY Weekly - 200 week average

USDJPY Quarterly - lower highs
— Edited by Adam Courtenay

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