USDJPY signals pointing lower
Friday’s strong 5½ Big Fig selloff to 99.01 for USDJPY has attracted buyers for sentiment to consolidate above the psychological 100.00 level. The bounce has tested and is attracting renewed selling at 102.95, a 50% recovery to Friday’s losses.
Management and risk description
Allow room to sell an intraday bounce and lower stop to entry if the first target is met.
Entry: market and 102.79, just below today's high in Asia.
Stop: 103.21, Friday's European top.
Target: 101.55, this week's low and 101.00.
Time horizon: today only.
— Edited by Gayle Bryant