Are We Looking at a Triple Top in the USD/JPY?
Rowan Crosby • 1 min read
The USD has been strong this week, which has coincided with a run-up in the USD/JPY. There has also been a clear move away from safe-haven assets, such as the Yen.
In the last couple of days, the USD/JPY has tried, tested and failed at the 113.00 level. We’re also pushing higher in a bearish channel. I feel that the fact we are coming to a Friday, there is a chance of a rush to safety as a hedge. North Korea often comes out over the weekend and throws a spanner in the works.
That might mean that we will get a bit of a sell-off in the USD/JPY on Friday. I’m more than happy to sell at 113.00, which has been a strong resistance level so far.