FXWW News/Trade Ideas/USD/JPY

USD/JPY: Prefer to sell intraday rallies

USD/JPY had a really good chance to go higher on Friday with a big technical break encouraging buyers from all directions. The fact that it’s now lower is a telling sign and the really obvious trade today from a risk-reward perspective is to sell intraday rallies with stops clearly above Friday’s 99.15 highs, looking for a move back below 98.00.

  1. Im with you Sean, looking for a good point to sell, any suggestions for today?

    P.S the Nikkei has been in limbo, and its already back where it started from on sundays opening, so ultimatly i think it really needs to shead points and come all the way down to 12500 sometime in the near future, and after that point can reach for the skys and take usd/jpy with it to 105 range, anyways thats my view!

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