Short term
Trade view / 01 August 2016 at 9:00 GMT

USDJPY selling rally continues to dominate investor sentiment

partner and technical analyst / 3 c analysis
United Kingdom
The Q3 call to sell at 106.22 has been close to the high and despite this month’s 7 ½ Big Fig rally from 100.00 the Fig, which is also close to a 50% pullback to the entire 2011-2015 bull-run, last week’s signals remained bearish, highlighting the potential for sellers to return to the market at the 200 week and the 50 & 100 day average rates. These were confirmed with a strong 4 Big Fig reversal. Although this is negative, dips may still attract buyers above the 99.00-100.00 area, so we would look to use this to set shorts, as signals continue to point to selling into any strength.

Management and risk description
Sell rally only - lower stop to entry if the 1st target is met


Entry: sell at 103.99, Tuesday's low

Stop: 105.64, Friday's high

Target: 102.06, just above Friday's low and 100.48, the 3 week base

Time horizon:  this week until 1pm Friday

USDJPY Weekly - buyers at 100.00

USDJPY Quarterly - 50% pullback
Source: all charts CQG 

— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
01 August
Amiqero Amiqero
Hello Steve
You expect bounce today as USDJPY already hit around 102?
01 August
Steve Lucas Steve Lucas
I'm hoping for bounce over next 2-3 days....
02 August
Dj TinTin Dj TinTin
any bounce yet ???
02 August
Namiq Namiq
seem it's gonna hit 100.5 first then bounce to 104


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