FXWW News/Trade Ideas/USD/JPY

USD/JPY: Likely to stay quiet but downside risks in short-term

The August holidays are in full swing and we can expect another very quiet session in Asia. USD/JPY is still in sideways mode overall but risk-reward favours the bears at current levels. The market may have gotten a bit too aggressive above 99.00 last week and I would not be at all surprised to see trailing stops triggered below 98.00 in coming sessions. A clean break back above 99.20 will greatly improve the bullish argument.

  1. Hi Sean, Do you think we will see 93.00/70 even 92.00/40 in the coming weeks / months in the USDJPY pair? What is yr long term forecast for the pair pls? Thx for yr comments…

  2. Hi Murat, I normally don’t like to sit on the fence but I really have no strong views at the moment. Looks to me like 9650/9950 range trading and we need to wait for mkt to break before we decide on next directional move. If I was forced to make prediction for next 10 big figs, 88 or 108, I’d go for 108

Leave a Reply

Your email address will not be published. Required fields are marked *