The Yen witnessed a lower open this week on reports that the Japanese government had approached Bank of Japan Deputy Governor Masayoshi Amamiya about replacing current Governor, Kuroda . There was a mild reversal in the move after government spokesman said the story was not based on fact. The subsequent upside move in USDJPY has bought a trading opportunity, if the rally can be sustained into our resistance zone. I have bespoke resistance at 133.72 and 133.79. A bearish BAT formation will be completed at 133.93-134.22. It should be noted that we have a Gap open at 131.18. Gaps tend to get filled. USD/JPY 8-hour With the next medium-term support level not seen until 124.29, this offer a great risk/reward sell setup USD/JPY monthly Possible short setup: Selling USDJPY at 133.72 (bespoke resistance). Stop at 134.82 (above the swing high). Target 124.30 (medium-term support). Risk/reward ratio 8.56R. The analysis, data and visual graphic charts or pictures contained herein are provided “as is” and without warranty of any kind, either expressed or implied. Educate2accumulate, contractors or employees, or any third-party data provider, shall not have any liability for any loss sustained by anyone who has relied on the information contained […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
