USDJPY signals point lower
Despite posting three higher daily lows and highs in a row, Tuesday’s signals switched to bearish. These have been confirmed, investors selling the market from close to last week’s 102.83 high and below the 13-day average rate for sentiment to deteriorate by almost ¾ Big Fig on the day.
Management and risk description
Sell an intraday bounce and lower stop to entry if the first target is met.
Entry: sell at market and at 101.60.
Stop: 101.95, today's high in Asia.
Target: 100.20, just above the five-week low and 99.01, June's base.
Time horizon: today only.
— Edited by Gayle Bryant