The Yen Wants to Test 113: A Chance to Short - Forex News by FX Leaders

The Yen Wants to Test 113: A Chance to Short

Posted Thursday, October 5, 2017 by
Rowan Crosby • 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.

Yen

USD/JPY – 240 min Chart.
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