FXWW News/Technical Analysis/Trade Ideas/USD/JPY

USD/JPY takes out recent highs; next targets 99.25 and 99.90

Despite the hedge fund selling earlier, USD/JPY is making new highs and has taken out this weeks highs and a 50% retracement level at 98.75. The next technical targets are at 99.25 and the 61.8% retracement at 99.90 (see chart) and I’ll be looking to sell failures at the latter for a quick 80/100 pip swing trade.

  1. After this pair failed to be inspired by data yest yet again,i went short,my stop is a few pips above 100 and am sticking to my guns for now.Hope i survive end of month flows.We’ll see……I may have sold early but such is life in the Markets.

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