23 May 2016 at 8:34 GMT
Ian Coleman - First 4 Trading
Ian Coleman from First4Trading.net
explains why he thinks that USDJPY could be a sell. The weekly chart highlights a head-and-shoulder breakout pattern and could form a Elliott five wave extension. USDJPY has stalled at 78.60% pullback level on the 2-hour chart and there is bespoke support at 109.66. Coleman wants to sell USDJPY at 110.20 with a stop at 110.60. His targets are 108.70, 102.00 and 101.00.
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