USD/JPY: a SELL trade idea
The US dollar may find itself under additional pressure in the near term. What is the best way to trade on a weaker USD? Have a look at USD/JPY.
USD/JPY: a SELL opportunity
2021-02-17 • Updated
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December. This is the third time the price comes to this level. As a result, a correction to the downside is likely. The decline below support at 105.85 will open the way down to 105.60 (200-day MA). The further fall will make the pair vulnerable for a fall to the lower border of the short-term uptrend at 105.00.
The market awaits the release of the US retail sales and the FOMC meeting minutes. IF the former is worse than expected, USD/JPY will get hurt.
Trade idea for USD/JPY
SELL 105.80; TP 105.60; SL 105.90
SELL 105.40; TP 105.00; SL 105.60
Elizabeth Belugina
Similar
The US economy and the USD
In this article, you'll find answers to major questions about the USD. Why is it rising? When will its dominance end?
NZD/USD: short-term triangle
Time to case-test a triangle chart formation with NZD/USD
Latest news
Oil surged amid soft dollar
Oil is edging higher due to the overall risk-on sentiment and a weaker US dollar. Jump in to get the tech tips!
Stocks and triangle patterns
We love triangles because they're easy to spot and predict possible price moves. Do we have any in the stock market?
ALIBABA: unclear future
On Wednesday, at 14:30 GMT+3 Alibaba reports its quarterly earnings. Will they push the stock?
Deposit with your local payment systems
