JPY Trading Outlook (09-04-2014)
USD/JPY: The continuation of the post NFP made short USD/JPY relentless and even accelerated faster in London and NY session. The pair triggered stops below 102.90 and 102.64, by Fibo, Tenkan & Kijun lines. It broke the daily cloud base at 102.06, local bids at 102 and more stops at 101.90 and below the March 27th swing low at 101.71. The Nikkei collapsed overwhelmed fairly stead USDJPY yield spreads and nearly unchanged US stocks. For now, 101.20, March lows and weekly Kijun, looks crucial. If that get taken out, then we will only be left with 200 DMA and the up TL from last June lows in the 100.70.
Back to JPY Trading Outlook Archive
