What’s the Best Level to Buy the Yen?
The USD really fell off the rails in trade yesterday and that has dragged down the USD/JPY. However overall I’m still quite bullish on th
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Last updated: Friday, November 10, 2017
The USD really fell off the rails in trade yesterday and that has dragged down the USD/JPY. However overall I’m still quite bullish on the USD and Yen so this might be a good opportunity for us.
The Yen loves round numbers and I like to try and work entries and exits near those points. Today I’m watching the 113.00. I think however I would prefer to find an entry slightly above that level at 113.10.
That around the lows of earlier and that means there is a chance we will test that once again. This is for a longer term move back up to resistance at 114.50 so we can give this trade a little bit more room to move.
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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