USDJPY | Friday's fall exposes more downside
The Yen seems to be making its purpose very clear at the moment: We are still in a risk off environment.
Friday's move took the pair down nearly 150 pips, clearly taking out a host of lows (and stop orders. Ouch).
Interestingly, we see that the retail crowd is still long USDJPY to the tune of 80% (i.e., of most retail trade data available, and of those trading USDJPY, 80% are long).
If retail is going one way, I want to go the other.
The short: I'd like a retest somewhere between 108.80 and 109.20 (I look at that as a single zone).
Friday's move took the pair down nearly 150 pips, clearly taking out a host of lows (and stop orders. Ouch).
Interestingly, we see that the retail crowd is still long USDJPY to the tune of 80% (i.e., of most retail trade data available, and of those trading USDJPY, 80% are long).
If retail is going one way, I want to go the other.
The short: I'd like a retest somewhere between 108.80 and 109.20 (I look at that as a single zone).
Trade fermée: cible de profit atteinte
Taking profits and resetting - watch for a new idea.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.