Hi traders,
We have had a fantastic week in the USDJPY asset. Price ripped through resistances on the prospect of the JPY economy contracting.
We expect this asset to find a new range, on the fact that the PMI data from the US came out weaker than expected. Perhaps risk is seeping into other economies.
The 110800 minor level is what we should be looking at to make plays off, shorting to this level on a move through 111400 and bounce on the test.
All the best,
Aardall
We have had a fantastic week in the USDJPY asset. Price ripped through resistances on the prospect of the JPY economy contracting.
We expect this asset to find a new range, on the fact that the PMI data from the US came out weaker than expected. Perhaps risk is seeping into other economies.
The 110800 minor level is what we should be looking at to make plays off, shorting to this level on a move through 111400 and bounce on the test.
All the best,
Aardall