Key Trading Levels in the Yen
Rowan Crosby • 1 min read
With the North Korea sage continuing to escalate, it’s well worth your time to focus on some of the safe-havens. The best forex pairs are generally going to be the USD/JPY and USD/CHF.
In times of uncertainty, money flows into these two currencies as there is a perceived level of protection. The USD/JPY has been a strong performer in the last week, however with one headline it has turned around.
I felt we had overshot the mark in the short term as it is, and the latest comments from the North Korean foreign minister only helped spark us. I’m looking to short the USD/JPY on pullbacks. The two key levels I am watching are 112.00 and 112.50. I’m happy to sell at both of these points looking for a break of 111.00.