USDJPY Trade Idea (4th December 2019)
Currency Pair: USD/JPY
Timeframe: H1
Date/Time of Signal: 4th December 2019 / 1600hrs (SGT)
Review:
USD/JPY has been trending downwards after Monday’s release of a lower than forecast US ISM Manufacturing PMI data which indicated a continuous contraction in the manufacturing sector.
Yesterday (3rd December 2019), US President Donald Trump mentioned that the trade deal with China may be better to wait until after 2020 US Presidential election. And with the possibility of US still imposing tariffs on USD156B of Chinese goods, resulting in USD/JPY trending lower.
USD/JPY has been on a downtrend and is below the Resistance level of 109.20.
Trade signaled to sell USD/JPY (Entry: 108.45) with 3 Take Profit (TP) Targets (TP1: 108.25, TP2: 108.05, TP3: 107.85) and Stop Loss (SL) at 108.75.
Timeframe: H1
Date/Time of Signal: 4th December 2019 / 1600hrs (SGT)
Review:
USD/JPY has been trending downwards after Monday’s release of a lower than forecast US ISM Manufacturing PMI data which indicated a continuous contraction in the manufacturing sector.
Yesterday (3rd December 2019), US President Donald Trump mentioned that the trade deal with China may be better to wait until after 2020 US Presidential election. And with the possibility of US still imposing tariffs on USD156B of Chinese goods, resulting in USD/JPY trending lower.
USD/JPY has been on a downtrend and is below the Resistance level of 109.20.
Trade signaled to sell USD/JPY (Entry: 108.45) with 3 Take Profit (TP) Targets (TP1: 108.25, TP2: 108.05, TP3: 107.85) and Stop Loss (SL) at 108.75.
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