USD/JPY SHORT

USD/JPY SHORT


Fundamentals:- The USD has been surprisingly bouyant considering the recent Employment data and the fact that Trump just pulled out of the Iranian Nuclear Deal. Although the Iranian deal may be a financial positive for the US it should still send investors flocking to safe haven currencies such as the JPY. I would like to see some more downside pressure on this currency pair before committing to the trade.

Techncials:- It was the techncials that caught my eye on this trade. The daily chart shows a nice double top with the base line running at 10880 giving a good suggestion for a sell entry. This double top is also the 61.8% Fibonacci pull back from the January High. So a good area of confluence at around these prices. For the full analysis sign up to the 30day free trial on the BOAFX Trading Signal Solutions website.