FXWW News/Trade Ideas/USD/JPY

USD/JPY techs: Well-watched trend-line now offers support near 97.40

Depending on which charting package you use, you will have this previous trend-line coming in somewhere between 97.20/40 (see chart).

With risk-aversion at heightened levels and no-one too keen to buy the USD, I would keep stops very tight indeed if you are tempted to buy.

  1. Hi Sean, based on today’s move do u thnk eur/Gbp finally broken the support of 83.60 and do we expect it to retest 81.70 in next few sessions?. Bullish Gbp news and very bearish euro news!!

  2. Definitely my side George, but whether it breaks lower now or in few weeks, hard to say with this cross. Certainly all news is bearish so I’m quite happy to stay short and sell rallies, but need to be patient

  3. Morning Sean, well what beautiful way to start the week! As you know I’ve been waiting for a breach of 98 and here we are, but Sean what do you think of it, i mean Im sure tuesday the house will not vote on this. And most likely they will just have a extension added so there will not be a government shutdown and vote in a few days or a week just to add pressure on the democrats to get some ammendments in their favour. But lets say tuesday nothing is passed, how low can we drop in a day for this pair. and if it is passed, is there enough momentum to go to 99.6 again as the debt ceiling issue is still at hand keeping the markets weak?

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