The Yen Wants to Test 113: A Chance to Short
For those out there that have been following my trades this week, you’ll know that I’ve been taking a heap of trades off the 113.00 lev
Rowan Crosby•Thursday, October 5, 2017•1 min read
For those out there that have been following my trades this week, you’ll know that I’ve been taking a heap of trades off the 113.00 level in the USD/JPY. The US Dollar Index (DXY) has been slowing down after its recent run-up. This makes me think that we have the potential for some more tests at the moment.
The safety of the Yen has also been fading, with North Korea seeming on the backburner this week. Of course, it's the weekend that we need to be most worried about them.
And let’s not forget non-farm payrolls on Friday. That’s going to keep the USD held down for the time being, but I won’t be holding into the announcement. So, for now, I’ll be continuing to sell at 113.00 in the USD/JPY.
USD/JPY – 240 min Chart.
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ABOUT THE AUTHOR
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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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