Yen Rallies – Sell Pullbacks in USD/JPY - Forex News by FX Leaders

Yen Rallies – Sell Pullbacks in USD/JPY

Posted Tuesday, August 29, 2017 by
Rowan Crosby • 1 min read

As we’ve already discussed this morning, a missile test over Japan launched from Pyongyang has shaken up equity markets and currencies, causing the safe-havens to rally.

Gold is higher, along with the Yen and Swissy. Equity markets are sharply lower in Asian trade with the Nikkei and ASX both significantly lower.

The is yet another act of aggression from North Korean Leader Kim Jong-un and will add to the war of words that US President Trump had only a week or so earlier.

Yen 30 minute

Pullback in the Yen

On the 30 minute chart we’ve seen a bit of a pullback.This might be a good chance to get short and look for another move lower as we head into the afternoon session in Asia.

109 has been a huge level for the USD/JPY. While we hold below, I will be looking to stay short and target the lows that we put in after the initial spike to the downside.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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