22 July 2016 at 7:11 GMT
Clive Lambert - FuturesTechs
USDJPY has been rallying for the last couple of weeks but yesterday it got close to a Fibonacci resistance at 107.60 and reversed, posting a “Bearish Engulfing Pattern”, according to Clive Lambert from FuturesTechs.co.uk. Lambert thinks it’s time to get short again, a trade that’s served him well this year.
He expects to sell USDJPY at 106.35 and add on a break below 105.40. A stop above 106.80 to start with, and targeting 103.30 and 102.30, maybe even lows at 100.00 and 99.00.