Get started
U.S. Dollar / Japanese Yen
Short

USDJPY Short

By alphatira
USDJPY

Looks overbought and taking a short trade... make quick 20-25 pips profit.

-USDJPY is consolidating the 2017 reversal from the 112.50 while markets are awaiting Trump's inauguration and speech.

- Meanwhile, the dollar has been in recovery overnight and US yields have found some support on stronger US data along with the Philly Fed's business survey that affirmed the broad strength in yesterday's Fed's Beige Book.

- The US data also added to the already rising profile for US yield: 10yr rose +5bps to 2.47%.

- Awaiting Trump to speech

- Having said that, all now pointing to short for quick profit

As usual 20-25 pips profit target. Ride with me!
alphatira

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.