USD/JPY – Long Shoot
U.S. Dollar/Japanese Yen FX:USDJPY
Here we go another USD/JPY good idea for the ichimuku trade,.
The yen is firmer across the board as China returns and tumbles with the central bank’s move to aid economy being shrugged off and the CNH dropping to the lowest levels since mid-August. This has sparked some risk-off play in markets with US indexes in the red. Similarly, Italy continues to weigh on investor sentiment and we had seen the biggest hourly drop in the yen since July
As you can see it has been the biggest drop so we feel the bulls will come out now.