Flows and Orders/FXWW News/USD/JPY

USD/JPY outlook: Break back above 100.00 has bulls in control again

  • Technical close back above 100.00 argues for a full retracement to 103.75.
  • Mild risk-off sentiment could weigh but market doesn’t care, it wants to buy the greenback.
  • AUD/JPY and EUR/JPY looking stronger by the day, more arguments for a higher USD/JPY.
  • Next sell orders of note reported at 101.25.
  1. The USDJPY market is over extending the expected range of 95-100 to 93.50-101.50.

    I still think the market is ranged. and as you mentioned in one of the posts this market is all about stopping out.

  2. I’m in the same boat a little with you on AUD/JPY however i think 92.50 will be some staunch resistance. Also the 200 day ma sits at 92.41 and if you draw a fibo from 79.36 to 105.42, 92.41 is the 50% retrace so it may be worth a shot to go short around 92.25 with a stop above 92.60 and have an initial target of 91.50.

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