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Day trade
Trade view / 13 September 2016 at 5:56 GMT

USDJPY signals switch to bearish

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: USDJPY
Price target:
Market price:
Background

The end to a small sequence of higher daily lows has switched this week’s signals to bearish. The market is trading below the 13 and 50-day average rates which is negative for sentiment and daily signals point to selling rallies.

Management and risk description

Sell the rally and lower stop to entry if the first target is met.

Parameters

Entry: sell at 102.43, a 62% recovery to the losses posted since Friday's high.

Stop: 103.05, Friday's top.

Target: 101.18, the August 26 Marabuzo line and 100.53, the open for the same day.

Time horizon: today only.


 
USDJPY 4 hourly - September's losses
 
USDJPY Weekly - recovery to losses


USDJPY Quarterly - 50% pullback
Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

– Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more
13 September
Andrey Derimarko Andrey Derimarko
Sell?
13 September
Steve Lucas Steve Lucas
Im going to sell at 102.43
13 September
Andrey Derimarko Andrey Derimarko
Index falls ....
13 September
Dj TinTin Dj TinTin
getting hammered Steve hope for some down tread 102.43 you say ??
13 September
Steve Lucas Steve Lucas
Yes sell at 102.43 - just about the high
13 September
Dj TinTin Dj TinTin
Trade still on Steve ??
13 September
Pandorra Pandorra
imo the worst idea I've read here, and cannot be realized at least as a 'day trade'
14 September
Steve Lucas Steve Lucas
yes you're right - the target was too far away
14 September
Steve Lucas Steve Lucas
It was closed at 102.20 though so no harm done

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