USD/JPY in Bearish Move

Geopolitical tensions keep on pushing yields on US treasuries lower, thus reducing the attractiveness of the US dollar, which therefore stands lower today against the Japanese Currency.

A run towards safe haven assets, together with a worse than expected Jobs report last friday, drove USDJPY lower: assuming momentum is under way, there are opportunties to short the pair.

Given the lower tremd it could be possible to wait for the pair to trace back to around 111.00 in order to enter the short positions: the target could be the 5-month low of  110.20, which acted as support in recent action. A break through that level could signal the opportunity for further shorting on the pair.

0 - Comments